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Originally Posted by Merlinsky
Not absolutely sure about details of the horse insurance business, but I seem to recall some thing where what Big Brown was insured for wasn't entirely going to cover what he was worth to IEAH as a prospective stallion they were trying to sell. Of course that might've just been Iavarone talking out of his y'know.
Here's something I found discussing his change in insurability from Derby to Preakness http://www.cnbc.com/id/24457479 which makes me wonder maybe it's not that Sea the Stars can't be insured, just that the insurance company might not being willing to raise coverage or raise it enough to warrant the risk for the owner. Insurance guys might figure he's maxed out. |
We cant take on too much risk. If we insure a horse for 30 mil and he dies, then the company is screwed. So we have to worry about our business and just cant take on any amount owners throw at us.