XV

AIRCRAFT INSURANCE

Through the failure of the United States Government to formulate a definite policy with regard to aeronautical development, the establishment of landing fields, the inspection of aircraft, and the licensing of pilots, the writing of aircraft insurance in this country has been very seriously embarrassed.

At the present the following kinds of insurance are written:

Fire (Floater form);

Collision (Meaning damage to plane);

Liability (Meaning injury to individuals other than passengers);

Property Damage (Meaning damage to property other than the plane);

Life and Accident Insurance for passengers in aircraft, covering specific flights.

The above forms of insurance are written by two classes of companies; one group known as casualty companies and the other as fire companies. There are seven American companies in the so-called fire group writing various forms of aviation insurance, and two in the casualty group. One of the casualty companies is in position to write what is called full coverage, covering fire, collision, property damage and public liability, also accident and life insurance.

Writers of aircraft insurance are of the opinion that a fair system of rates and an adequate extension of insurance protection can not be brought about until the Federal Government accepts the responsibility with which it is confronted by proper supervision of pilots, establishment of adequate landing fields, elimination of stunt flying for exhibition purposes, and concentration of aeronautical activities under one department of the Government in Washington.

THE END