ORIGINAL: rhklenke
A ''waiver'' in this context is a license to fly a turbine-powered model under the insurance coverage of the AMA in the US. The AMA safety code says that a modeler can not fly a turbine-powered model unless they have this ''waiver'' that is signed off by two other experienced turbine flyers. Its basically a mechanism to try and keep inexperienced or unskilled flyers like Mr. Islandhobbies from getting a turbine model and hurting someone or causing a lot of property damage because they can't handle the aircraft.
Bob
Bob, your timing is great! That was funny....
Case and point, watch the end of the vid
http://www.youtube.com/watch?v=06_vh6iFt3g
Here is another definition of a waiver
http://www.investopedia.com/terms/w/...#axzz1oWE63np3
Basically from the AMA perspective you are not covered by the AMA liability insurance unless you possess a waiver that will allow you to fly turbine aircraft, you earn your waiver by proving your skills to two other waiver holders, one of which must be an authorized CD (Contest Director) for Turbine events.
Once you earn the waiver then you are covered by the AMA liability insurance as long as you operate your model under the AMA safety code.