RE: What's your opinion on the AMA?
Hi yard-dart
The most recent financial statement is the one for 2002 which is posted in the Member’s Only Section on the AMA web site. The cost of the commercial insurance policy, based on that statement is about $5.50 for each adult member (140,000). In addiction, the AMA is self insured for the first $250,000 of each claim. That cost about $12 per adult in 2002. The total amount of your dues going to insurance is about $18 per year. The insurance has gone up in 2003 (the new financial statement should be up in a few days), and again in 2004 and will undoubtedly be a larger dollar amount of your dues.
Your assertion that most individual claims are probably paid by homeowner’s is correct, IMHO. The AMA coverage is “in excess” and other forms of coverage come first.
BUT, you are looking at a small piece of the pie. Take a look at the 2004 Club Charter Kit on the AMA site to get a good idea of what you are paying for.
The liability insurance also covers clubs, where the insurance is normally primary. It also covers the landlord, and the policy is without the potential exclusions included in the Safety Code. All at a cost to the club of about $100 per year. The simple fact is that your dues subsidizes those coverage’s.
Be aware that about 50% of claims made to the AMA are of the “trip and fall” variety, not flying related claims. Those claims typically involve the chartered club and the landlord.
You asserted that the AMA does not pay claims. I would assert that you can not find so many as one claim that has not been paid when the AMA was the coverage involved. Find just one person that says “my claim was not paid by the AMA” when their homeowner’s or some other coverage was not primary to the “in excess” coverage. Find just one.