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When will the Insurance be paid out and is this payment taxable?



Thanks!

i also was wondering this. On there site it has no updated list of games missed, you can only see football. Could you contact them on this and let us know please.

Originally posted by slopshot:

i also was wondering this. On there site it has no updated list of games missed, you can only see football. Could you contact them on this and let us know please. Yes, I will contact Henry today and get the list of MLB players who met the requirement. Then I'll find out about payment and if this is being treated as earned income or not. I'll post here when I have all of that.

Okay, Henry said he would have the list of eligible players by the end of the week and I'll post those here. Once we have all of that, we'll compile the list of NFBC owners who deserve payment and the insurer will submit that for payment. Once we have that checks will be issued to all eligible policy holders.



This is not taxable as this is not income. This is an insurance claim from a policy purchased.



I don't even want to say congrats to those of you who benefitted from this because the reason you are cashing is that one of your top players got hurt for a lengthy stretch of time. But at least the insurance recovered some of your pain. I think it was a neat plan and it's something we'll look into offering again in 2011. It appeared to be a win-win for everyone.



[ October 06, 2010, 02:00 PM: Message edited by: Greg Ambrosius ]

If my math is right , I'm pretty sure I'll be receiving an insurance payment due to Ian Kinsler's numerous absences for my Super team.

500 big ones. This was a nice little perk Greg.



Thanks.



Glenn

Originally posted by Greg Ambrosius:

Okay, Henry said he would have the list of eligible players by the end of the week and I'll post those here. Once we have all of that, we'll compile the list of NFBC owners who deserve payment and the insurer will submit that for payment. Once we have that checks will be issued to all eligible policy holders.



This is not taxable as this is not income. This is an insurance claim from a policy purchased.



I don't even want to say congrats to those of you who benefitted from this because the reason you are cashing is that one of your top players got hurt for a lengthy stretch of time. But at least the insurance recovered some of your pain. I think it was a neat plan and it's something we'll look into offering again in 2011. It appeared to be a win-win for everyone.

Originally posted by Greg Ambrosius:

Okay, Henry said he would have the list of eligible players by the end of the week and I'll post those here. Once we have all of that, we'll compile the list of NFBC owners who deserve payment and the insurer will submit that for payment. Once we have that checks will be issued to all eligible policy holders.



This is not taxable as this is not income. This is an insurance claim from a policy purchased.



I don't even want to say congrats to those of you who benefitted from this because the reason you are cashing is that one of your top players got hurt for a lengthy stretch of time. But at least the insurance recovered some of your pain. I think it was a neat plan and it's something we'll look into offering again in 2011. It appeared to be a win-win for everyone. How are we looking on getting this ball rolling?

Originally posted by Chest Rockwell:

quote:Originally posted by Greg Ambrosius:

Okay, Henry said he would have the list of eligible players by the end of the week and I'll post those here. Once we have all of that, we'll compile the list of NFBC owners who deserve payment and the insurer will submit that for payment. Once we have that checks will be issued to all eligible policy holders.



This is not taxable as this is not income. This is an insurance claim from a policy purchased.



I don't even want to say congrats to those of you who benefitted from this because the reason you are cashing is that one of your top players got hurt for a lengthy stretch of time. But at least the insurance recovered some of your pain. I think it was a neat plan and it's something we'll look into offering again in 2011. It appeared to be a win-win for everyone. How are we looking on getting this ball rolling? [/QUOTE]Congratulations. You "won" twice with your insurance policies. Once with Jimmy Rollins and once with Jacoby Ellsbury.



This is complete and I'll post the MLB players who were on the DL for 60 days or more next. We have 25+ NFBC owners who are going to receive checks from Fantasy Sports Insurance once this is all processed. While it's true that nobody wanted to receive payment on injuries, it does lessen the blow of disappointing seasons for some owners.



Like I said earlier, we are exploring the idea of doing this again with FSI for those who pay via check for certain contests. I'll let you know if we offer this again, but look for information on the payments soon for this year.



Those owners who "won" on players included:

Jimmy Rollins

Jacoby Ellsbury

Ian Kinsler

Grady Sizemore

Manny Ramirez

Josh Beckett



No other player was designated by NFBC owners and were covered. Hope this helps.



[ October 11, 2010, 02:48 PM: Message edited by: Greg Ambrosius ]

I'll try to copy and paste those players who were on the DL for 60 days or more and covered under the FSI policy. It looks like a total of 12 players on the FSI list qualified for insurance, of which five of them were selected by NFBC owners. Here's the 12 players who did qualify for payment in 2010:



Jacoby Ellsbury BOS LF 12-Apr 22-May 40 Rib cage pain

25-May 4-Aug 71 Contusion – left chest area

14-Aug 3-Oct 40 Brusied ribcage - left side

151 games total



Ian Kinsler TEX 2B 4-Apr 30-Apr 26 Ankle sprain

28-Jul 1-Sep 35 Strained Left Groin

61 total games



Grady Sizemore CLE CF 17-May Out for season

140 total games Bone bruise - surgery out for season



Dustin Pedroia BOS 2B 26-Jun 17-Aug 52 Fractured left foot

19-Aug 3-Oct 46 Sore left foot

98 total games



Jimmy Rollins PHI SS 13-Apr 17-May 34 Strained right calf

22-May 22-Jun 31 Strained right calf

65 total games



Jason Bay NYM LF 25-Jul 3-Oct 71 total games Post concussion syndrome



Brian Roberts BAL 2B 10-Apr 23-Jul 104 total games Strained ab muscle; sore back



Kendry Morales LAA 1B 30-May 3-Oct 127 total games Fractured left leg



Kevin Youkilis BOS 1B 3-Aug Out for season 61 total games Sprained thumb - out for season



Justin Morneau MIN 1B 8-Jul 3-Oct 86 total games Concussion



Josh Beckett BOS P 19-May 23-Jul 66 total games Strained lower back



Manny Ramirez LAD LF 23-Apr 8-May 15 Strained right calf muscle

30-Jun 15-Jul 15 Strained right hamstring

17-Jul 21-Aug 35 Strained right calf muscle

65 total games



[ October 11, 2010, 01:56 PM: Message edited by: Greg Ambrosius ]

I called myself and left a message for Henry earlier today. He called back within a couple hours and left a message as well.



He said that they just completed determining the eligible players (the ones Greg named) and the beneficiaries (of which I am one ), submitted them to Greg for review, and then will forward to the underwriters for final approval and payment. He mentioned there was a process involved, but it sounded like he was on top of it and the process was already underway.



I'll admit I was pleasantly surprised to get a call back the same day.



By the way Greg, how about offering this for check payment on the NFBBC Super.



Glenn

Originally posted by Glenneration X:

I called myself and left a message for Henry earlier today. He called back within a couple hours and left a message as well.



He said that they just completed determining the eligible players (the ones Greg named) and the beneficiaries (of which I am one ), submitted them to Greg for review, and then will forward to the underwriters for final approval and payment. He mentioned there was a process involved, but it sounded like he was on top of it and the process was already underway.



I'll admit I was pleasantly surprised to get a call back the same day.



By the way Greg, how about offering this for check payment on the NFBBC Super.



Glenn Yeah, Henry is on top of this and excited to work with us again in 2011. We have identified the MLB players for this insurance policy and the NFBC players. We are double-checking addresses and the list and sending everything forward to the underwriter for claims. Henry will send out these checks once he has received payment. It's all moving forward, but a process we're all aware of when it comes to insurance claims.



I don't think we have enough volume to do it in hoops, but we're talking about possibly doing it again for baseball. The whole idea was to give folks a benefit who pay via check, which helps us and you. Now folks are seeing the benefits in the form of payments for their injuries.

GA, Just PMed you my current address. It changed since the season began. mahalo!

I'll collect %500 from Beckett in the Super. Why didn't I pick Rollins in the Main?



Great idea Greg!

any update on the insurance or how we claim it?

Originally posted by Dirt Dogs:

any update on the insurance or how we claim it? Yes, Henry said everything has been processed and now we're just waiting for the payments by claims. As we all know, that takes a little time with insurance companies and this is no different here. But everything is good to go and Henry has responded to some individual owners who have pinged him via email. He's been great about everything and hopefully we'll work together again in 2011.

Originally posted by Greg Ambrosius:

quote:Originally posted by Dirt Dogs:

any update on the insurance or how we claim it? Yes, Henry said everything has been processed and now we're just waiting for the payments by claims. As we all know, that takes a little time with insurance companies and this is no different here. But everything is good to go and Henry has responded to some individual owners who have pinged him via email. He's been great about everything and hopefully we'll work together again in 2011. [/QUOTE]I am one of the owners he has been responsive. He indicated to me that he is hopeful payment happens in the next 2 weeks.