Bernardini probably done...

[GenuineRisk]

Does someone know the rule for calculating the insurance on a racing colt/stallion? I thought I was told once it was seven percent of the estimated value of the horse. So if a superstar horse was appraised at $30 million (which, I assume, they calculate based on future stud fees?), then the insurane would be what, around $2 million? That's a lot for a small owner to come up with. Is that true?

And here's another question-- could an owner insure for less that the horse was valued at? If it's a $30 million dollar appraisal, could one opt to insure for $5 million, for example?

I just can't figure out how a small owner who might hit it lucky could afford to keep a big horse running, no matter how much he or she might love the game... can anyone who knows this stuff tell me?