While aviation is not exactly a mature industry, it is aging. Maybe what we're seeing today is just the end of a plateau in the overall development of aviation. Many commercial and airline pilots today received their initial training in the military. The World War II pilots are now in their 70s and 80s, the Korean War pilots are in their late 60s, and the Vietnam pilots are in their 50s and 60s. One of the most common conversations we have with our clients and friends concerns how they can extend their insurable years as a pilot.
Aviation is a great hobby for our retirement years.
Aircraft hull and liability insurance for the senior pilot has become such a concern that our insurance agency has developed a special task force to help deal with this problem. Looking into the future, as the baby boomers age, our average pilot populations continue to age. As with automobile drivers, we have found this segment of our industry to be no more likely to have an accident than the younger group. In fact, they tend to be more cautious, better trained, and better financed than most underwriters care to admit. Maybe it is because we are growing older ourselves, but we believe increased awareness at the underwriting level will soon improve insurance company acceptance and serve to extend the insurable age of the senior pilot.