action: insurance

Ismaeel Abdur-Rasheed · 2003-11-28T11:40:50+00:00

insurance - limiting liability for siteowners and particpantsthe promise of insurance has been used in marketing rocketry to both prospective rocketeers as well as to prospective site owner/managers. But what liability protection is actually acheived, and under what constraints is not clearthe type of rocketry practiced, the types of motors used, and the level of competency of the practitioners, and the size and composition of the spectator group all have a bearing on risk, and consequently on the cost of insurancepart of the "insurance marketing" is the leverage available to a large organization, to distribute costs over the population, as well as other benefits. Not all members fly with the same frequency, and that statistical variation may be a factor in population size impacts costwhat is the best form of insurance?insurance at the level of "national organization"insurance at the level of "club"individual personal liability insuranceor should the organization underwrite their own policy, using premiums collected (as a part of membership dues) to establish a fund from which claims are paid, and administrative costs to a licensed insurance administrator are paid? In situations where historical payouts are low, the year-to-year rollover of premiums can be in interest-bearing accounts, and the future premiums actually be reduced over time - a significant savings. But should claims be high and frequent, the premiums may be insufficient to cover thei cost of pay-out, and other contigent funds drawn upon.but regardless of the way insurance is handled, insurance without full disclosure of its stipulations and specific constraints on benefits suffers, as members cannot be attentive to conditions which may void the insurance, and both they and siteowners cannot accurately determine what residual liability they may still have.I know that our ranks include professionals with expertise in this area.comments?

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Jeff Barnes 22 years ago

Any member holding a launch or landowner permitting a launch can obtain a certificate of insurance showing dates, limits of coverage, and a contact if needed. A landowner can be named as an addidtional insured as their interest my appear.

No, it is not.

Most, if not all, insurance policy excludes intentional fraud.

Unlike your "allegedly" fraudlent advertisements for launches at Lucerne in the Tripolitan with stated altitude waivers, and your articles in the Trapolitan with altitude results CLEARLY exceeding the actual waived altitude.

Correct me if I am wrong on this point.

Lets not forget to mention all of the people who have "allegedly" claimed that you wronged them financially.

Again, please feel free to correct me if I am wrong. If there is anyone out there who has been wronged financially by Jerry Irvine, please post here.

I will admit you did send my US Rockets hardware from you as a raffle prize in the SRN drawing.

Jeff Barnes TRA #2267

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Jerry Irvine 22 years ago

In article , snipped-for-privacy@yahoo.com (Jeff Barnes) wrote a bunch of stuff:

So is this some sort of Tripoli official statement or something? That these things are avialable to the "needed folks"?

And if so, isn't this a first for rmr?

The ads stated blanket waivers to 8000 and windows to 15000.

TRA President Charles E Rogers (and now BOD member) did indeed fly a rocket tracked to about 25,000 feet (great flight BTW Chuck and Korey) and he did state preflight the estimated altitude was 13,000 feet. The RSO let it fly.

Am I responsible for that?

And why isn't he?

Or Korey for that matter?

Let's not.

Name 5.

Does he even realize how many times this post has been made?

Aparantly with reservation you admit it.

Except as a TRA member, how are you going to get loads? :)

Jerry

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Bob Kaplow 22 years ago

It's often part of homeowners or renters insurance. I know my homeowners policy gives me $300K of general liability coverage.

Bob Kaplow NAR # 18L TRA # "Impeach the TRA BoD" >>> To reply, remove the TRABoD!

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David Weinshenker 22 years ago

Right - but many people aren't homeowners, and not all renters (especially those renting apartments, rather than houses) actually carry renters insurance... it doesn't seem valid to assume that any attendee at a given launch is going to have one or the other. (How many people who don't have one or the other of these "property-oriented" insurance policies actually carry a standalone "general personal liability" coverage?)

-dave w

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Jerry Irvine 22 years ago

Almost none. Renters insurance is the cheapest way to buy liability.

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Bob Kaplow 22 years ago

If a renter wants insurance for their POSSESSIONS, they have renters insurance. If you've got so little assets as to not need renters insurance, you're pretty judgement-proof as to not need liability insurance either. And probably in the wrong hobby.

Bob Kaplow NAR # 18L TRA # "Impeach the TRA BoD" >>> To reply, remove the TRABoD!

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Jerry Irvine 22 years ago

ROFL!

The more you pay the more it's worth. -truism

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David Weinshenker 22 years ago

OR.... have adequate resources for rocket stuff as a consequence of _not_ spending so much money accumulating expensive consumer goods as to feel a need to have insurance for them.

-dave w

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Jerry Irvine 22 years ago

Hobby rockets ARE consumer goods. Even big ass ones.

Jerry

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Ted Cochran 22 years ago

renters

Careful, though...if you have earnings power, You could still end up with your wages being garnished for life...

--tc

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RayDunakin 22 years ago

Bob K. wrote:

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Ismaeel Abdur-Rasheed 22 years ago

I have a State Farm Insurance renters policy that includes $100K of personal liability coverage

- iz

RayDunak> Bob K. wrote:

>

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Bob Kaplow 22 years ago

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David Weinshenker 22 years ago

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Jerry Irvine 22 years ago

I would put a ballpark percentage of 70% plus.

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