For those USUA members who have been burdened by the lack of ultralight insurance- your wait is over! As a result of the concerted efforts by First Flight Insurance Group and USUA, the new program is up and running ahead of schedule.

The program is much the same as previously described in the Insurance List Update, except for one item. The property damage per accident coverage has been changed from $500,000 to $250,000. This was done to assure the longevity of the program. The $500,000 figure obligated the underwriter for this amount of funds to be held against the policy (sort of in escrow). Lowering it obligates the underwriter to the lesser $250,000 amount. How will this help, you ask? I'll tell you. The reason for the demise of the previous USUA insurance program was lack of participation. The underwriter was obligated to set aside $500,000 for a program in which less than 500 people bought policies. This was not acceptable. Too much out, and not enough back. By lowering the amount for this policy, only $250,000 is required to be set aside; therefore, subjecting the underwriter to less financial hardship from the beginning; thus allowing the program to exist in the event of low and slow participation (no pun intended). But don't worry. If your particular situation requires more than $250,000 property damage per accident, First Flight assures USUA that provisions can be made for individual circumstances; You can get what you need.

Dale Hooper
Executive Vice President, USUA

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