Insurance markets in everything

by on August 23, 2009 at 3:21 pm in Sports | Permalink

…two Long Island insurance brokers have developed a way for the
fantasy owner to experience the bittersweet taste of an insurance
payout when their superstar goes down with a season-ending injury.

That's right. Pro teams have hedged against their largest contracts
with insurance for years. Now owners of fake teams can now protect
themselves against the injuries of real players with actual insurance
policies.

I thank Jon for the pointer.  I wonder if this isn't a publicity-generating loss leader for their other insurance policies.

William August 23, 2009 at 4:43 pm

If they are taking losses on this product, maybe the insurance agents should talk to some bookies, who as a group have long since figured out how to make money selling insurance to cover all manner of sporting eventualities.

Jessica August 24, 2009 at 3:48 am

Insurance for imaginary teams? So, if a player gets injured in reality, the owner of the fake team gets a payoff?

Jonathan Falk August 24, 2009 at 2:31 pm

To MJG: So a credit default swap is just “Betting Ford will go bankrupt,” but for the moment at least, it’s completely legal.

Rachel September 28, 2010 at 7:38 am

It seems that all insurance companies need to do something so they can attract more customers on their side. But offering insurance for a fantasy team, well, that beats all in my books. You have to be crazy to do that. Insurance Agent

Thelma October 31, 2010 at 10:21 am

Well this is nothing. They need this. Like the insurance on Bruce Springsteen’s voice for $ 6 million and Jennifer Lopez behind for $ 1 billion. We all become so paranoid (I don’t know how to call it otherwise) that we pay insurance for stupid and unnecessary things like golf games or kidnapping/ransom.Thelma @ blair rewards program

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