The wonderful world of insuranceBlog added by Paul Wilson on June 26, 2009
Paul Wilson

Paul Wilson

Denver, CO

Joined: May 30, 2007

Thanks to the wonder of the Internet, we never face a shortage of something interesting to read these days. Pick your poison: Keeping up with the Gosselins, the NHL draft, the ever-changing state of the economy… The list goes on and on. But even given the circus that is modern media, I have to admit that I never expected to find so many bizarre stories coming out of the insurance world.

In researching my blog during the past few months, I’ve come across some doozies. I mean, here I was expecting to read about things like rate increases, deductibles and government regulation and instead I find stories about death maps and pirates. Oh, and did I mention flying cars?
It seems Mass-based Terrafugia Inc. has recently completed the first successful flight tests of the Transition Roadable Aircraft — a flying car.
Apparently, the car completed its first flight on March 5 and has since added 27 additional flights to its resume. It has completed the first of a four-stage process required to bring the Transition into production, with first delivery anticipated for 2011.
Okay, to be fair, we’re not exactly talking about a Jetsons-style flying car here, but according to the company, the car can drive, fly and transform between the two modes of transportation and has demonstrated safety while in the air.
The “car” is actually considered a “light sport aircraft” and drivers, er, pilots will be required to have a sport pilot certificate to drive, um, I mean fly it. Even crazier, it is designed to take off and land at local airports and drive on any road. Now that’s a hybrid.
Interested in gas mileage? The Transition runs on unleaded automotive gasoline and can go 450 miles at over 115 mph (although it will apparently also drive at “highways speeds” on the road.)
If you’re an insurer, how do you handle a true “hybrid” like this? What kind of insurance do you require? I can only imagine some of the discussion that will go on.
Forget about Hollywood or the Cartoon Network – apparently, a glimpse into the future is a lot closer to home. Maybe insurance isn’t all dusty figures and underwriting after all.
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