AOPA meets with insurance underwriters

AOPA President Darren Pleasance kicked off the meeting by discussing the aviation industry, where he highlighted the growing number of pilots and the positive implications the FAA’s Modernization of Special Airworthiness Certification (MOSAIC) rule will have for both pilots and manufacturers.

“Insurance is always top of mind for pilots,” Pleasance said. “This meeting took place one week prior to the first changes with MOSAIC. As pilots begin to understand what this means for them, underwriters are paying close attention to it as well. These discussions are vital to keeping lines of communication open.”

Dr. Brent Blue, an FAA senior aviation medical examiner, discussed the importance of BasicMed. Since the program began in 2017, more than 90,000 pilots have flown safely with this qualification, and more than 50,000 fly with BasicMed today.

In recent years, many older pilots have reached out to AOPA after having difficulty obtaining insurance coverage while flying under BasicMed, as some insurers require a third class medical certificate for coverage.

However, Blue pointed out an FAA study done in 2022 found no difference in accident data statistics between pilots with a third class medical and BasicMed. He also pointed out BasicMed has a safety advantage over other medical certificates as it requires pilots to undergo an aeromedical education course every two years, while other certificates do not have that requirement.

Brian Macbean, AOPA Aviation Finance director of credit and sales, told underwriters that lenders remain optimistic despite economic uncertainty.

AOPA Air Safety Institute Senior Vice President Mike Ginter presented an analysis of accident data. Ginter said that once the information is compiled, 2024 will likely stand out as the safest year in GA history, and the numbers for 2025 are on track to surpass that historic high note.

Ginter organized the first meeting with underwriters at the NBAA convention in 2024.

“When we first met last year, underwriters helped us understand some of the most frequent claims they see that are completely avoidable,” said Ginter. “With that feedback, we developed a video that explained some of the commonsense things pilots can do to hopefully keep them from filing a claim in the future.”