Re: $100 Million at NoblePoker
 

The insurance part is big business. Haven't you ever seen at a local golf tournament where they give away a car for a hole in one? Anytime there is a huge amount of data and it is easy to determine the probability then you can find an insurance company willing to take the risk in return for the right premium.

Re: $100 Million at NoblePoker
 

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The insurance part is big business. Haven't you ever seen at a local golf tournament where they give away a car for a hole in one? Anytime there is a huge amount of data and it is easy to determine the probability then you can find an insurance company willing to take the risk in return for the right premium.

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Yes, but it still comes down to eventually someone putting $100,000,000 on the line. I would want to know who that someone is to make sure they could pay up.

Big business or not, I don't believe there's too many companies (relative to all companies) that can afford a $100,000,000 cash flow out and still survive. Hell, I could back this offer, collect the couple million premium from Noble for it and then file for bankrupcy if it's hit.

Re: $100 Million at NoblePoker
 

For those who are interested...

Michael Konik wrote about a guy that writes a lot of these insurance policies. I think it was in "The Man with the $100,000 Breasts" but it could have been in "Telling Lies and Getting Paid."

Acme

Re: $100 Million at NoblePoker
 

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Big business or not, I don't believe there's too many companies (relative to all companies) that can afford a $100,000,000 cash flow out and still survive.

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Couple of points:

A. T&C have not been released, but I am sure it will be paid out over the course of about 20 years at $5 million/year. In those terms doesn't seem too bad to deal with for a company.

B. Compare to the risk of natural disasters, AIR Worldwide earlier estimated insured losses in the Katrina-hit states in a range of $17 billion to $25 billion. These figures cover wind and rain damage and some flooding, AIR Worldwide said.

Re: $100 Million at NoblePoker
 

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Yes, but it still comes down to eventually someone putting $100,000,000 on the line.

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Are you sure?

Re: $100 Million at NoblePoker
 

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B. Compare to the risk of natural disasters, AIR Worldwide earlier estimated insured losses in the Katrina-hit states in a range of $17 billion to $25 billion. These figures cover wind and rain damage and some flooding, AIR Worldwide said.

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And sadly for those victums, a lot of those insurance companies will go broke before victums receive a fraction of their claims.

Re: $100 Million at NoblePoker
 

A *wink wink* agreement to keep everyone alive at the table until someone hits the royal and then chop the jackpot up among the table for $10-15M each (depending on the size of the final table). [img]/images/graemlins/blush.gif[/img]
I'm sure Noble Poker wouldn't mind the collusion [img]/images/graemlins/grin.gif[/img]

Re: $100 Million at NoblePoker
 

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B. Compare to the risk of natural disasters, AIR Worldwide earlier estimated insured losses in the Katrina-hit states in a range of $17 billion to $25 billion. These figures cover wind and rain damage and some flooding, AIR Worldwide said.

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And sadly for those victums, a lot of those insurance companies will go broke before victums receive a fraction of their claims.

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Evidence please?

Re: $100 Million at NoblePoker
 

Berkshire Hathaway has been taking insurance policies that noone else would for years. Primary owner of Berkshire Hathaway Warren Buffet he could put $100M on his credit card as it is less than 1% of his net worth...

http://www.forbes.com/finance/lists/...atatype=Person

Point is Insurance companies have HUGE assets check out AIG with $48 billion of cash on their balance sheet.

Insurance companies can come up with $100M and the other poster is right, most of those "$1 million dollar shots/passes" are covered by a one time fee of $20K or something like that.

Re: $100 Million at NoblePoker