Definitely getting good. Essentially, if I read this correctly, he collected a insurance check on a horse he knew was alive. Crazy ****.

No...The insurance cut him the check based on the prognosis is how I read it, and since he ended up making it, they have ownership of the horse and will try and sell him as a stallion prospect now.

At least good news the horse is alive!

This entire story is stupid four ways from Sunday.

The bank cuts an insurance check on a horse who didn't die.
The owner, presumably...right, cashes an insurance check on a horse that isn't dead.
Someone, somewhere has this horse, alive...right???

Cashing an insurance check on a live horse, sent to you because he is presumed dead...is, in my opinion, an exercise in fraud, no? If that ISN'T fraud, what is? If you absolutely, wholeheartedly, cashed this check, knowing the horse isn't dead...

Now, the bank is just as stupid for not confirming the horse is dead. A phone call from a vet would do the trick - banks call firms to confirm funds available all the time - can't make this call?

Either way - ridiculous.

Is Thorn Song really dead?

I hope he's in good hands if he's alive.

according to the article, the check was correctly written/cashed. the insurance decided to pay due to the condition the horse was in. zayat isn't in trouble (presumably) on that score. since they paid, and the horse is alive, they now own the horse. i'd guess it's similar to the payout on war emblem, who is still covering mares.

zayat isn't under fire over receiving the check-it's just that 5/3 thinks they have the rights to all his horses, therefore they felt they should've gotten the check. i don't even know that the real issue is zayat-it sounds to me that the real issue is that the bank is about to fail, and they're seeking every avenue to generate cash.

Ditto from me. What a crazy story.

Thanks Deb for a summary some may be able to comprehend... if they bother to read it. It's nice to see that someone actually visited news sources, gathered information and digested it before firing away willy-nilly with zero uderstanding of what actually transpired. But hey... it's the internet. Let the innuendo and lynch mob mentality reign free!

unless it was a Loss Of Use claim.. But I'm certain my company doesnt offer LOU to TB race horses..

We arent the one who paid the claim though and if they are paying LOU on racehorses than they arent going to stay in business long!

Unless it was for A S & D.. but was he retired to stud before he was injured?

A bank doesnt cut the check, and insurance company does. And we require necropsy reports (like autopsy for horses) to pay out any mortality claims.

While it is correct that the insurance company cuts a check on an insured horse, they can not receive a necropsy on a live horse ...

But they can pay out a mortality check on a live one ..

Confused ??? Not so much ...

Think of a badly damaged horse where euthasia MAY be indicated ...

The horse is considered a TOTAL---like a totalled car --whether it is euthanised or not...

The insurance company thus can pay out on the total loss--so even though the check shows a mortality, the horse MAY be alive, but a total loss ...

Just like the insurance company appropriates a totalled car, they may do this with a totalled horse, and chose to proceed further with its " salvage " or not ...

This was done with Your Host by Lloyd's of London ... Lloyd's took over the rehab and ownership of the horse, after a bad accident that produced multiple fractures, and he recovered to stand at stud and give us Kelso ..

In a sense it was done with Cigar--who was a total loss as far as breeding worth ...

Ummm, while your analysis is (relatively) correct, you are trying to school someone who actually does this for a living...

i remember reading about 'your host'. he fractured a shoulder. they packed sand around him to support him while he lay in the stall. always had a significant limp, but didn't hinder him covering mares.

i don't think he'd been retired. they were aiming for the bc when he developed those abcesses in his feet.
hard to know the details on the policy/payout since zayat says he can't discuss it.

I work for an Equine Insurance company.

We can not, will not, and never have paid a mortality claim on a horse that is alive. We REQUIRE necropsy reports on dead horses to be able to pay a claim. (this was proved to not be true)

Check out my post above that discussed Loss Of Use, or Stallion Accident, Sickness & Disease.

it is 100% different than a mortality claim. Loss of Use claims do happen, we pay out about 75% of the horses value and we get ownership of the horse. or you have the option of getting a lower amount and keeping the horse. My company does NOT offer LOU to race horses. Also, you dont automatically get a LOU payment if your horses loses its use. You have to buy coverage for LOU (3.75% rate here).

Cigar and War Emblem fall under AS&D. Insureds can purchase AS&D for Stallions and if they fail in the breeding shed (like dont have live sperm like Cigar and War Emblem at first), then they can get a claim paid.

I think you are a little confused about the word mortality. It is impossible to pay a mortality claim on a live horse. Thorn Song obviously had AS&D or LOU or a fraud situation occured. (this sentence was also proved not to be true)

No she was incorrect about paying Mortality on a live horse. Just not possible. Mortality claim is for a dead horse. But there are other ways to be paid a claim.

You have to buy coverage for LOU (3.75% rate here).

Is that high? You have gelding (Mine That Bird) worth 1.5 and you only have to pay 60k a year to insure him against him being basically useless? If you insure (lou) him at a 1.5mil evaluation and he can only run in quarter claimers do you get paid?

We do not offer LOU to Race horses. That would basically put us or any insurance company out of business.

And we also limit LOU coverage to $500,000 or less. So say you have a show jumper worth $900,000 we can do the jumper for mortality at a discounted 3.5% rate on the 900K (or $31,500 premium) and do LOU on the jumper for $500,000 on the horse at 3.75% (18,750 premium) plus probably $375 for our $10k Major Medical..

Total premium for said jumper would be $50,625.

Let me add that I have absolutely no idea what actually transpired with Thorn Songs claim as it was a different company that paid out and they could have different policies.

I'm just explaining our policies incorrectly.

No I am not confused NOR do I not comprehend that it does logically seem impossible to pay a mortality check on a live horse ...

BUT--I viewed the actual check as per KY.com and it does indeed say MORTALITY claim on Thorn Song ( less deduction ) ...

So THEY called it as such, paid out as such, and though I am not in the biz, I assume that is how they did it considering that the horse was a total ...

And they knew the horse was not dead---see for yourself ...

When I said check in my original post, I meant THAT particular check--not all mortality checks of course ..

I do ubnderstand LOU, and I do understand what mortality means ..