"You Don’t Have to Show Any ID to Fly"

[shikamaru]

One side of government ID is 'limitation of liability'. If the person is a corporation and gets injured, far less liability on an aircraft. Having living souls on board is more liability than a corporation can handle. That is, which would you be liable for: the death of 500 PERSONS or the death of 500 living souls?

Part of limitation of liability is transference of liability. This is the bread and butter of insurance.

[allodial]

Part of limitation of liability is transference of liability. This is the bread and butter of insurance.

There has to be some consideration for a contract to be valid? And so a cause for the piper to get paid?

[shikamaru]

There has to be some consideration for a contract to be valid? And so a cause for the piper to get paid?

Is not the consideration the premium paid by policyholder to the insurer?

Further thoughts that occurred to me:

1) Insurance is a form of hedge (risk management, risk management strategy).
2) Risk management is of the actuarial sciences.