The AMA provides insurance, but is not just an insurance company. That's a pretty simple concept to understand, IMO.

I just read through the new regulations last week and as I see it, most FPV pilots aren't going to comply. It sounds to me like the AMA is playing it conservatively on the safety front, and essentially publishing these regulations so that AMA insurance coverage isn't available for those who want to push the limits of what FPV can do. AMA has never covered pilots who fly over houses or people, and they aren't going to start now. Flying beyond LOS hasn't been possible before, but until the FPV links become rock solid reliable the AMA is being smart not to cover that either. What I can honestly see happening is a few incidences of FPV pilots damaging someone's property or scaring/hurting some bystanders and then the FAA gets involved again. AMA will be quick to point out that the pilots in question were not following AMA guidelines, which then will become a mandate for the AMA guidelines to become law for all RC pilots. Then the chances of these current regulations being relaxed become virtually nil. Whereas if we'll all fly responsibly now in a few more years a grassroots campaign to relax the regulations some more will probably be successful.