Losing an engine as happened here is one of those things that could be written off as outside the pilot's control. Being the owner and probably maintainer, mechanical issues would be in his control on the ground, but not once he's flying. What would be in his control is the safety equipment and survival gear on the aircraft. With his prior Air Force experience, he should have known better.

No survival training or aptitude beyond flying the aircraft to minimum FAA standards and certain regulatory book knowledge is required to maintain your license.

Edit: Maintaining a medical as well.

Also, every 2 years you have to get signed off by either an instructor, inspector, examiner, or obtain an additional pilot rating of some sort that requires a checkride.

I know Navy and AF pilots/crew members undergo extensive survival training. I assume the Army has similar requirements.

I went through basic survival in NE Washington (Fairchild AFB/Spokane) and spent several days in the field. Water survival at Homestead AFB, FL. We also had refresher requirements, mostly academic, not in the field.

Don't think civilian pilots receive training, but can't say for sure since I got my flight training through the AF and my FAA license was after taking test on civil regulations.

However, I'm fairly certain in the regs it mentions that you are not supposed to fly beyond gliding distance of land without a life presever. Haven't looked it up, so can't give the exact reg.

Nope, not for Part 91 (non-commercial)light aircraft operations in the U.S. Entirely up to the pilot or aircraft operator.

You're right the gliding distance is a 135 (Air Taxi) reg, and for 91 you only need them when flying further than 50nm from shore in a large(12,500 lbs +) or turbine powered airplane.

Edit: Of course I think staying within gliding distance is a great idea when you don't have proper flotation equipment, but with the low weather it may not have been possible that day.