Loan insurance change (Small)

[PhoenixKnight]

Like real insurance, the banker should claim the loan insurance when it is default nd not an automatic thing.
I had a loan that was being paid out and I was happy with it, when suddenly loan insurance kicked it and took it!

[Grimrock Litless]

I know what you mean, its automatic to prevent exploits.

[PhoenixKnight]

At the same time it is too rigid. For example, I neither wanted or needed to collect on the insurance. Now it just hurt me to protect against potential exploits. But who paid for it? The nation? Did I want it? No. So in a way, the law screwed both me and the nation. The only one who benefited was the borrower who is not in the nation. But it also hurt him because he cannot join the nation and stay with that level of debt

[Sir Henry Morgan]

It would then be better to do away with the insurance policy - nation's can vote to have one or not.

The policy is there by a law voted by each nation. It was designed to encourage bankers to lend to new players. It only a activates when a player becomes inactive.

To add tweaks to the banking program would only be the start - the bank feature is a gold coin burner, and will almost never serve to pay for itself - even if that insurance law were tweaked.

The best way for a nation to issue insurance would be manually, by allowing bankers to submit defaults to the council, and then the entire council can vote to either purchase the default it not, regardless if player is inactive or not.

I don't mind the law as it stands - a tweak isn't the answer. A new law to process each individual default loan to be purchased by the nation would provide the alternative I think you seek
or, perhaps, a law for a nation to guarantee the loan on behalf of the borrower...

[PhoenixKnight]

The law insurance now is good as a policy. The mechanics of collection is the issue. Manual submission is what I ask for. Payment would be in lieu of the policy

[DezNutz]

The law insurance now is good as a policy. The mechanics of collection is the issue. Manual submission is what I ask for. Payment would be in lieu of the policy

So the gist of the suggestion:

A banker should have to submit a loan to the nation for reimbursement based on the law. If they don't the loan stays at the bank.

[PhoenixKnight]

Percisly precisely

[DezNutz]

+1 Approve.

This actually is very logical. Bank loans shouldn't automatically be picked up by the Nation if loan insurance is available. The use of Loan Insurance should be optional. Bankers should have to submit the loan to receive the insurance for the defaulted loan.

Additional thought. If a player could choose when to submit, there would need to be restrictions on it specifically in regards to the possibility of a player switching nations to get a better loan insurance. In the event a banker changes nations and has an inactive player with a past due loan, loan insurance of the nation the banker leaves should automatically kick in for those loans. I think that is the best route to take in that situation.

[PhoenixKnight]

Sounds good to me

[Kangaroo]

+1 Approve.

This actually is very logical. Bank loans shouldn't automatically be picked up by the Nation if loan insurance is available. The use of Loan Insurance should be optional. Bankers should have to submit the loan to receive the insurance for the defaulted loan.

Additional thought. If a player could choose when to submit, there would need to be restrictions on it specifically in regards to the possibility of a player switching nations to get a better loan insurance. In the event a banker changes nations and has an inactive player with a past due loan, loan insurance of the nation the banker leaves should automatically kick in for those loans. I think that is the best route to take in that situation.

+1 There is no compelling reason not to do this