Perfectly legal and binding.
I appreciate your expertise in this area...enlighten us.
Insurance is legalized gambling. The only difference is life insurance because everyone is going to die. All aviation insurance is eventually handled by Lloyds of London. Underwriters there subscribe to the risk. For example, no one underwriter underwrites a big airline, like American or Delta. The risk, and the premiums, are shared. So no, I think that Trump has exposure because I doubt he would seek a rider to his policy to cover the Iowa State Fair. And minor’s cannot have their rights waived by themselves or their parents. Trump is betting that the PR value of the helicopter rides is worth the risk. Again, legalized gambling.