Insurance on an in training horse is very high. The biz is small and once figures like $10m, $30m, $50m etc get bandied about the insurance company rep calls to tell you that your rates just went up, even if you have not closed any deals. If you get offered $20m for your colt and are taking time to decide, race him in the Cigar Mile, contemplate a 4yo campaign etc, the insurance guy and you both know that that offer constitutes an (informal) assessment of his "value."
I meant the racing/breeding biz. Meaning that word gets around. No small in $$$ terms. Relatively few breeders, brokers, insurance people etc, especially at the elite levels.
11-13-2007, 11:25 PM
Hybrid Mode
