Insurance

[PhoenixKnight]

Can we either add an insurance feature to banks or create insurance companies?
It feels appropriate for big transactions.

gold shipments for instance. Or against being plundered or ship sinking,...

-1

[Stan Rogers]

Ahhh... now there is a business I could go for ! No stock needed, just a promise to pay if one cannot find a really good reason to avoid paying !
Count your GC earned. Be like a Lloyds of London and insure specific fleet numbers against plunder or skirmish above and beyond national insurance. Maybe branch off and also provide banker ins to loans up to specified amounts. There is no limit to how insurance companies make money. Risk assessment based on last 25 pvp battles determines rates, the list never ends.
Yep.. I wanna be an insurance salesman when I grow up to be a big pirate

[Crackedcubes]

On a side note, may we have a derivatives market, so i can bundle up all those tiny little insurance policies and sell them to the highest bidder?

[Psychodad]

yep...I mean it is a game about piracy.

PnC insurance is nothing but a money maker for the insurer IF, (that's a big if) the underwriters can be judicious about risk assessment.

Of course there is always the possibility of fraud.

[Crackedcubes]

Exactly, and is this group of nefarious pirates...insurance fraud should run rampant!!

[Psychodad]

probably no different than the real...

...difference is the inability to enforce laws concerning fraud. (See the topic about wage garnishment)

[DezNutz]

I'm inclined to just -1, but this could be a worthwhile idea. Although it needs a lot of work.


Vote to move to discussion.

[PFH]

There are multiple suggestions for insurance, including one i posted not too long ago if i can find it. It has a worthwhile merit to it and needs discussion nonetheless. Ill find the links and post them in my comment.

Move to discussion

Ship insurance by trump: viewtopic.php?f=4&t=2390&hilit=Insurance&start=0#p29645

Bank based insurances by admin and suggestions of others: viewtopic.php?f=5&t=4626&p=80863&hilit=Insurance#p80257

Plunder Insurance by SHM: viewtopic.php?f=22&t=1050&p=9910&hilit=Insurance#p9910

[Banger]

Move to discussion