Hey DaChopper,
Seeing as you have little idea of what you are talking about, why not read up and get a clue so you can have an opinion which comes from knowledge rather than heresay.
http://www.ikorg.com/kb_insurance.phpDownload the pdf file to read up on the insurance, then try and find out anything about AKSA insurance and make your own minds up. Yes IKO insurance is offshore .... German Underwriters.
IKO insurance is for people who kite the world over, not just in Oz, it also covers you for injury to yourself, as well as salvage costs and death and disability to yourself as well as third party and property to others, also covers you for windsurfing.
Pretty easy to dis what you know nothing about

Good winds to all, even the uninformed