Tue Sep 08, 2020 4:32 pm
#1795200
Spookily I had this very conversation 2 hours ago with Katy at Visicover. I already have my own aircraft insured there and we are about to place another syndicate machine with them. I assumed it would be simplest to just insure it under my “account” as I had already created a quote using it, but Katy explained that (to my surprise) in the event of one of my partners having an accident we would both be tainted just as the OP described, since as the policy holder, I am making the claim.
The way to do it apparently is to have a new name which you just make up with no legal formality and which appears as the Policy Holder so e.g. “The Jolly Crashproof Syndicate”. The partners are named as owners elsewhere in the policy. If there’s a prang, only the pilot is tainted. If there’s a payout, it will be direct to the partners following discussion with the underwriters.
I suspect this is what we’ve actually been doing for years anyway, without realising the significance.
Alan (hopefully all remembered correctly)