Monday, October 07, 2013

Fantasy Insurance

I've often observed that the most important lesson that I've learned in almost 30 years in the insurance business is that "if money is no object, you can insure anything."

And so I find this little tidbit quite validating:

"Fantasy Football league owners are even insuring their players to safeguard against being knocked out of competitive play"

If you're like me, then you've probably heard about Fantasy Football Leagues, but know very little about the actual nuts-and-bolts thereof. Apparently, folks pick various real-life players to populate their fatnasy teams, and as these players perform on the gridiron, so they perform in one's FFL team.

But what if a real-life player is injured? Turns out, their virtual counterparts may also be out for the season, perhaps dashing one's hopes for a (virtual) Super Bowl spot.

But never fear, there's a policy for that:

"O'Leary decided to protect his investment and purchase insurance from Fantasy Sports Insurance ... According to the Fantasy Sports Insurance website, fantasy team owners can insure players for $100 to $1,000.  If an injured player misses nine games, there’s a payout."

And it's apparently for real: that carrier paid out some $5 large in 2012.

Icing on the cake?

"[I]nsurance is also available for hockey and baseball."

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