AIR INSURANCE

Dominion, Volume 12, Issue 237, 1 July 1919, Page 7

AIR INSURANCE

Now that civilians have started, to fly, tho thoughts of many people are seriously turning to tho subject of air insurance policies (writes "\V.P." in the.-"Daily Mail"). The general rates are by no means excessive,. practically. anyoneLvrho wants to fly can insure for .£IOOO, .payable on death, or the loss of two limbs or two eyes, as the outcome of an- aircraft accident, for a premium of ten shillings a trip. In other words, insurance people are ready to wager two thousand to one that an air passenger will get back to' earth safely after just an ordinary loyal joy-ride. For longer journeys the rates vary, and I have seen the following personal risks premiums given:— London-Paris '. Bs. per ,£IOO England-Italy ss. per ,£IOO England-Bombay ... 25e. per ,6100 . Exact standardisation of rates does not exist at present beeauso the problems are novel and there is no great amount of experience to draw upon for data. Tho nature of journeys—whether over land or over water—the age, structure, and typo of machine concerned, the record and qualifications of the pilot, night and daff flying, are some of tho major considerations in arriving at premiums to be charged. However, practically every.-form of air insurance may be effected. Aircraft can bo insured against damage of all kinds, including fire. Burglary is an-insurance risk, and no is damage accidentally done by flying machines, including third-party risks. Male pilots may also insure themselves agaiust accidents. In a recent address at. tho Institute of 'Actuaries'' Dr. L. T. Stamm, late 11. A.F., classified the tliero risks of. the air in tho following order:—Weather conditions, especially fogs a.nd storms; mechanical defects; defects of pilot. "It is difficult to calculate the risks of ordiinvy flying from the past four years' experience," he said. A pilot may to-day bo physically and mentally fit for his work, and ono month, two months, or three months' hence ho may be quite unequal to the job. "There is no dembt that the nervous strain involved in flying tends to excess in tho consumption of tobacco, and alcohol. I have no hesitation in saying that, from the point of vicrw of Hfn assuranco, a lower rate of premium 6hoTuld bo made to tho abstainor pilot." This is sound common sense, and the only addition ono has to make to it is that the class of flying man sometimea referred to as a "Wttle scarred 1 ' .veteraa has no more chance of-getting a job in civilian 'flying than Lanm has of being asked to dine at the Guildhall.