by Jonathan Spencer

Is it really true that every aircraft accident, no matter how minor, touches off a liability lawsuit? Hardly. But the perception that liability risk is high has fostered the standard nightmare scenario of the wealthy business owner suffering an engine failure while ferrying some clients to an important business meeting. The lot of them crash into a schoolyard in flames… a private school, of course, attended entirely by the kids of plaintiff’s attorneys.

The reality is that this has never happened and although it’s unlikely to ever happen, the fact that it can’t be ruled out entirely is the firm foundation upon which great insurance empires are built. This…