snippercr

I had an individual approach me who wants to get his CFI reinstated after he let it lapse. He flys heavy aircraft internationally but his kids want to get their PPLs and he wants to be the instructor. He got his original CFI back in the 70s and let it lapse I assume when he went to the airlines. Needless to say, he will need considerable amount of ground discussion and probably some flight training. He owns his own 172.

What, if any, insurance do I need? Since it is his aircraft who would the liability fall on if something were to happen?

Also, any one have a good going rate for such instruction? This is outside of my current salaried CFI job so I don't know good hourly rates. Considering this requires a higher level of CFI experience, I was thinking $40/hour.

Thanks!