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1. 09:09 AM - Re: Fw: Aircraft Mutual is ready to take deposits (Bert Murillo)
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| Subject: | Re: Fw: Aircraft Mutual is ready to take deposits |
On 9/26/07, Ed Anderson <eanderson@carolina.rr.com> wrote:
>
> Don't know if anybody on the Southeast list would be interested in this
> approach to self insurance or not, but here it is for your perusal.
>
> Ed
> ----- Original Message -----
> From: lorene washburn
> Sent: Wednesday, September 26, 2007 8:12 AM
> Subject: FW: Aircraft Mutual is ready to take deposits
>
> Tom Smith has asked that the following be forwarded to all RVers.
>
> Lorene
>
>
> Be a better Heartthrob. Get better relationship answers from someone who
> knows. 5433
>
>
> --Forwarded Message Attachment--
> CC:
> Date: Sat, 22 Sep 2007 10:04:57 -0700
> From: info@aircraftmutual.com
> Subject: Aircraft Mutual is ready to take deposits
>
>
> This letter is to update all interested prospected members regarding
> progress we have made in making Aircraft Mutual group a reality. Initially
> we were hoping to provide aircraft hull coverage and builder's risk. We have
> discovered that we could provide a better package to the RV builder that
> also includes liability coverage. Sort of a one stop shop for your
> insurance needs.
>
>
> In June we had a meeting with the broker to discuss the possibilities to
> offer an alternative insurance product to RV builders and flyers. We were
> advised that the concept was good and the next step would be to have an
> actuarial study and an independent audit to verify that the program would be
> a financial success to the members of the group. This information from these
> studies would be used to assess the feasibility of the program. This in turn
> would be presented to different underwriter insurers to purchase the master
> insurance coverage above the group deductible to make the program function.
> We will be seeking quotes from several insurers to obtain the best cost for
> the group. Once an agreeable quote is provided, the cost of premiums will be
> established to fund the insurance. This will allow us to provide a fixed
> cost for annual premiums for each member.
>
>
> The group will be a captive program essentially insuring itself up to a
> certain amount. This amount will be established by the financial audit and
> the actuaries. If that amount is exceeded then the excess insurance will
> trigger and provide coverage.
>
>
> The estimated costs to complete the actuarial study, financial audit and
> feasibility study are estimated at $30,000.00 to $45,000.00.
>
>
> How the program will work.
>
>
> 1. Each member will have a membership fee to belong to the program.
> This feel will be $2000.00 and will be a one time membership fee to
> establish your personal membership account. All members will start with a
> $2000.00 account. As profits are realized in this business a portion of
> those profits will go into your member account proportional to the balance
> in the account. (A similar process as what happens in your USAA insurance
> account, if you are insured by USAA.)
>
>
> 2. As capital exceeds that required by the company for reserves and
> normal customary business expenses a return on premium will be sent to the
> member on the anniversary of their membership. This premium rebate will be
> in addition to the 25% reduction that they receive by being in the group.
>
>
> 3. If the member no longer is flying a RV and wants to withdraw from
> Aircraft Mutual Benefit they will receive the balance on their membership
> account as a final settlement and the membership shall be terminated at that
> time. If conditions change and they want to return membership they shall
> again have to open their membership account with the preliminary deposit.
> This balance is subject to annual losses from operations.
>
>
> At this time we would like to start collecting a portion of the membership
> fee in the amount of $150.00 per member to fund the various studies that are
> needed to go forth. This money would be credited towards the initial
> membership fee but will not committed until we have contracted for the audit
> and feasibility studies.
>
>
> By asking for a percentage of the membership fee we are able to get an
> indication of the willingness of the RV population at large to participate
> in such a program. We will return all the money in the event we do not
> reach the $30,000.00 to $45,000.00 required to complete the studies. If we
> do receive the necessary interest and funds then we will consider that as a
> down payment on the membership account.
>
>
> We look forward to your response and participation to become a member of
> this group. Considering the safety record of RV aircraft we can start
> insuring ourselves and paying for ourselves not the entire general aviation
> market.
>
>
> Bob Kaufmann
> Rick Sked
>
>
> Aircraft Mutual Benefit Co.
> Aircraft Mutual Benefit Co.
>
>
> bob@AIRCRAFTMUTUAL.COMbob@AIRCRAFTMUTUAL.COM
> rick@AIRCRAFTMUTUAL.COMrick@AIRCRAFTMUTUAL.COM
>
>
> PS We are asking that the checks be sent to Aircraft Mutual at 1930 Village
> Center Circle, Suite 3-833, Las Vegas, NV 89134. If you are going to LOE
> then I will be around Russ Daves RV-10 but will be wearing an Aircraft
> Mutual Polo and Hat. I would welcome questions and potential deposits there
> also. We are expecting that all will be in place and finished by the first
> of the year and the RV community can begin to self cover itself at that
> time.
>
> ________________________________
> Get news, entertainment and everything you care about at Live.com. Check it
> out!
>
I donot understand this, $30,00 to see if the company wants the business?
and we would haved to pay for that too?
All you need to do is contact any of the reputable companies, that offer
Aviation Insurance (Property &Casualty) and offer the deal... We will
have agroup of Rv's etc.. what deal can you offer, for the package..
The most importatnt of course will be Liability and the Hull (aircraft) wheater
in motion or flight... depends what the group wants..
Bert
rv6a
do not archive
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