I am a member of RCAPA, or at least I used to be (not sure if my membership has expired yet, you can search for me DBA Midwest Aerial Photography in Iowa).
I have not used Aerial Pak personally, so this is all second hand information, but I have heard that it is VERY hard to get paid out on claims, as the insurance is structured as mechanical failure only, and it is hard to prove that you didn't "dumb-thumb" the AP unit in. Anyone that has seen the aftermath of an AP crash would be hard-pressed to prove to an insurance company that the whole works came out of the sky because a linkage failed in-flight and not during the subsequent crash. One of the individuals even had video of his heli having a massive gyro or TR servo failure (wife was video-taping the flight for use in promotional material) and wasn't paid out on the claim. Once again, this is all second hand information, and I have know first-hand knowledge of Aerial Pak either way. Hopefully they are the real deal, as it would be a huge advancement for the AP hobby and industry!
I actually used a local insurance company while I was doing this professionally called Krist Insurance. They documented everything, and I had to do a proficiency test before they would place the insurance, but I did have the paperwork necessary to get the job done. I did, however, always feel like I would be left with my shorts down if I actually had to make a claim. The ONLY reason I would have ever claimed on it would be if I would have done serious personal or property damage, and thankfully that never happened.
As a hobby, it is a FANTASTIC way to expand a person's already keen interest in photography, and there are ways around using your "hobby" to make a profit (think selling "stock" photos from your "personal" portfolio
)
I think at some point it will be a very viable side business for those that absolutely love to do it, but right now there are a lot of unknowns.
I think it is GREAT that there is an AP link here on EP-it takes two of my favorite things and combines them into what often is a fantastic trip!