Live Chat With Henry Of FantasySportsInsurance: Thursday At 2 ET

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Feb 24, 2010 11:46 am

Okay, I know there's been a lot of interest in the insurance program we initiated this year with the NFBC and we owe the idea for the concept to Henry J. Olszewski of FantasySportsInsurance.com. Henry came up with this idea last year and received national publicity from the Wall Street Journal, New York Times, Sports Illustrated and other publications.

We're now glad to have him involved with the NFBC and it looks like our members are happy as well. As of now, it looks like almost 70 percent of our NFBC main event participants are paying by cash, which is good for them since they will get free insurance on one top player, good for the NFBC and good for FSI!! All of the Diamond League members also paid by cash, which eliminated about $4500 in revenue for the credit card companies.

Anyway, I know that a lot of people still have questions about the Top 100 players who will be on this list along with details on how to buy insurance for more players, etc., so Henry has agreed to do a Live Chat with us tomorrow to answer all of your questions. He's ready to take the obvious questions and the difficult questions and I commend him for jumping in with us and doing the Q&A.

Feel free to post your questions here before the Live Chat and Henry will gladly have his answers ready. He's here for one hour or longer if needed. Thanks Henry and enjoy the scrum in the playground!!

DOUGHBOYS · Post by **DOUGHBOYS** » Wed Feb 24, 2010 12:44 pm

Why the J?

Ok, who are the top 100 players?

How do you formulate the top 100 players?

Where does most of your business come from? Leagues, individuals, sites, etc?

[ February 24, 2010, 08:01 PM: Message edited by: DOUGHBOYS ]

DOUGHBOYS · Post by **DOUGHBOYS** » Wed Feb 24, 2010 2:28 pm

60 days seems like too much of a safety net. Grady Sizemore didn't even miss that many days last year, yet killed fantasy teams and with no help from your end.

With the 60 day dl, any injury from August on is uninsureable, explain to me why this is, when injuries at this time of year are most devastating?

Give me your best sales pitch, explain why I would want to insure a player if it were not free.

Walla Walla · Post by **Walla Walla** » Wed Feb 24, 2010 2:52 pm

Greg, This a joke right??? Please tell me this a joke! We're getting close to baseball drafts and you had to bring this up? No one else? Hell I'd rather have Geeko!!!!!!!!!!!!!!!

Red Sox Nation · Post by **Red Sox Nation** » Wed Feb 24, 2010 2:52 pm

Can we purchase additional insurance on players?

If so - can we choose lower terms? (30 days 45 days etc.)

billywaz · Post by **billywaz** » Wed Feb 24, 2010 3:05 pm

Originally posted by Walla Walla:

Greg, This a joke right??? Please tell me this a joke! We're getting close to baseball drafts and you had to bring this up? No one else? Hell I'd rather have Geeko!!!!!!!!!!!!!!!

Damn Walla, you disappoint me!

A perfect opportunity for you to bitch, and you aren't even the first response on this thread.

What's wrong, is it that time of the month?

Walla Walla · Post by **Walla Walla** » Wed Feb 24, 2010 4:06 pm

billywaz, I guess. I just don't want to waste it on this stuff. Slime is Slime. If you've never stepped into it you will with this BS!

bjoak · Post by **bjoak** » Wed Feb 24, 2010 5:40 pm

Sorry you have to deal wit the classlessness; it is not representative of the group here. While I'm no longer doing the main event this year, I want to know what I'm missing out on. Do you just have to draft the player and choose him as your insured guy? Does the person need to be rostered while he is on the DL? What about the unlikely event that he is dropped before he even hits the DL. Does he still count?

billywaz · Post by **billywaz** » Wed Feb 24, 2010 10:34 pm

Originally posted by Walla Walla:

billywaz, I guess. I just don't want to waste it on this stuff. Slime is Slime. If you've never stepped into it you will with this BS! Why is it BS???

All you have to do is pay by check instead of by credit card, and you get insurance on one player. If your player doesn't get hurt (which obviously most won't go on the DL for 60 days), it didn't cost you a dime!

Now I know of one person who gets enough back (%) on their credit card that it doesn't make sense to do this (which is fine). However, if all things are equal and you have the money to pay for everything right now, WHAT DO YOU HAVE TO LOSE???

Are you the type of guy who passes free food samples at Costco or Sam's Club because you feel there are strings attached??

DOUGHBOYS · Post by **DOUGHBOYS** » Thu Feb 25, 2010 1:13 am

Hypothetical-

I am entering the Main draft.

Cost is $1400.

First pick.

In my mind, my team lives and dies with Albert Pujols.

How much would it cost me to insure Pujols to get my entire entry back?

Walla Walla · Post by **Walla Walla** » Thu Feb 25, 2010 3:18 am

billywaz, Hey no problem pay by check. Get a 10% return on your bad pick. It's a free country.

I go on record as saying it's a rip off for anyone who pays for it. I won't use it! Even if its free. I'd love to win the overall and blast this BS. Hi I'm Walla Walla and if your using insurance your getting screwed! Thank you.

KJ Duke · Post by **KJ Duke** » Thu Feb 25, 2010 3:46 am

April 9, 2009

The Arizona Diamondbacks withdrew their three-year, $54 million contract extension to right-hander Brandon Webb last summer because insurance companies had concerns about Webb’s arm, FOXSports.com reported Thursday.

Sources told FOX that Webb passed a team physical but that insurance companies use a higher standard when assessing risk. Webb’s contract, FOX reported, was contingent on the Diamondbacks being able to secure an insurance policy.

Walla Walla, the curmudgeonly fantasy baseball player, ripped Diamondbacks ownership for their decision, stating his belief that all insurance companies are slimy and that he wouldn't take out insurance if it was offered to him for free. It has been reported that Mr. Walla then contacted Webb's agent and offered a 3-year, $1300 per season fantasy contract. Jonathan Maurer, Webb's agent, was quoted as saying, "No comment", then added, "I hope he doesn't have my home address".

[ February 25, 2010, 09:50 AM: Message edited by: KJ Duke ]

Walla Walla · Post by **Walla Walla** » Thu Feb 25, 2010 3:58 am

KJ,

billywaz · Post by **billywaz** » Thu Feb 25, 2010 4:25 am

Originally posted by Walla Walla:

I go on record as saying it's a rip off for anyone who pays for it.

This is what I don't understand....

NO ONE IS PAYING FOR IT!!! (unless you are referring to the NFBC, but the cost to the customer is zero, nada, zilch, etc.!!

)

Maybe you are tighter than skin on a sausage, but me using an envelope, the ink from a .10 pen to write the address, and .44 on a stamp to potentially get $250 back on my stud player is worth it.

[ February 25, 2010, 10:26 AM: Message edited by: billywaz ]

King of Queens · Post by **King of Queens** » Thu Feb 25, 2010 4:30 am

Originally posted by billywaz:

quote:Originally posted by Walla Walla:

I go on record as saying it's a rip off for anyone who pays for it.

This is what I don't understand....

NO ONE IS PAYING FOR IT!!! (unless you are referring to the NFBC, but the cost to the customer is zero, nada, zilch, etc.!!

)

Maybe you are tighter than skin on a sausage, but me using an envelope, the ink from a .10 pen to write the address, and .44 on a stamp to potentially get $250 back on my stud player is worth it. [/QUOTE]You could even save the 45 cents (44 cent stamp + 1 cent of ink-usage) by sending a bill payment check from your bank.

FREEEEEEEEEEEEEE!!!!!

billywaz · Post by **billywaz** » Thu Feb 25, 2010 4:45 am

Originally posted by Walla Walla:

Get a 10% return on your bad pick.So if I select Albert Pujols with the 1st pick and he goes down the first game of the season with a torn ACL, it was a bad pick???

The irony is I taught my class about rational and irrational numbers today. I related the words rational and irrational to people's behavior.

If you don't mind, I may pull up this thread to help my students further understand the definition of IRRATIONAL. :rolleyes:

[ February 25, 2010, 10:46 AM: Message edited by: billywaz ]

Walla Walla · Post by **Walla Walla** » Thu Feb 25, 2010 4:48 am

OK! Let me talk real slooow for some of you. This is not about a freebe for you. It's a about using us to promote it! The goal is to rip off many people who will pay for it. If your happy with that than good for you. I will not use it it.

If by chance my name is used I will sue the heck out of anyone connected to it. Have a nice day.

Quahogs · Post by **Quahogs** » Thu Feb 25, 2010 4:51 am

Walla Walla was here

FantasySportsInsurance · Post by **FantasySportsInsurance** » Thu Feb 25, 2010 5:12 am

Hi Everyone – I am looking forward to discussing FSI and answering your questions at 2:00 today. In the mean time I wanted to address a few of the questions on the board in order to make sure we have enough time later today. I appreciate the opportunity and look forward to our talk later today.

Here is a little summary of FSI and what we are offering. FSI is player disability coverage. The idea here is to provide coverage for your investment against the unforeseen INJURY. This is not a policy covering poor performance from a player. As this is a true insurance product there has to be a measurable loss for the insurable interest (your fantasy investment). We have put together a list of coverage options that we feel suits the baseball and its injury/DL structure.

One player spends 60 days on the Disabled List due to injury

Two players spend a total of 90 days on the Disabled List due to injury

Three players spend a total of 115 days on the Disabled List due to injury

I would like to answer a few of the questions currently out there:

DOUGHBOYS – No answer for the J. it is just a J ha ha ha

• Top 100 players are currently being reviewed and underwritten with the underwriter. We should have the eligible list by Wednesday of next week.

• The player list comes from the compilation of data form several sites, including Fanball. If there is any player in particular you want to see on there let me know and I will see what I can do

• As this is our first baseball season we don’t have that data. We are hoping to get a nice balance of interest from all areas. We do get quite a bit of traffic to the site and our relationship with Fanball and the NFBC has been a big driver as well.

• Wither regards to your 60day DL question – keep in mind that if you were to offer a coverage that would protect you against 30 or 45 days the cost would be significantly higher due to the likeliness of that happening. Look at it like insuring the house that is already burning.

• I understand you point on the late season loss of a significant player. We are currently working on a coverage option that will address this issue. Stayed tuned!

• If you insure Pujols for the full amount the cost would be roughly $140

Walla Walla –This is not for everyone and I understand that. Not sure Slime is an appropriate description and no one is being used here. Best of luck this season!

Red Sox Nation – Big Sox fan here as well. Former Boston guy now living in NY. I feel like a pilgrim in an unholy land…

• You can purchase additional insure for your NFBC selected player as well as insurance for any other eligible player you have on your roster.

• As I mentioned to DOUGHBOY lower terms would cost significantly more and we didn’t explore that option. I could take a look and see if that is something we could offer if you are interested.

Bjoak – Once you draft your team you select a player(s) to insure whether it is with the NFBC or directly on our website. The player needs to be on your roster at the time of purchasing the coverage. What you do with that player after that is up to you. If you choose to trade him mid May and he goes on the DL, well you have a policy on him and you will be covered.

See you guys at 2!

billywaz · Post by **billywaz** » Thu Feb 25, 2010 5:15 am

Originally posted by Walla Walla:

If by chance my name is used I will sue the heck out of anyone connected to it. Have a nice day.

Someone needs a SERIOUS hug!

(a picture from Q perhaps?

)

Walla Walla · Post by **Walla Walla** » Thu Feb 25, 2010 6:20 am

The rush to post questions has me in awe! Right up there with Shawn and Greg.

Gekko · Post by **Gekko** » Thu Feb 25, 2010 6:26 am

Originally posted by FantasySportsInsurance:

Walla Walla –This is not for everyone and I understand that. Not sure Slime is an appropriate description and no one is being used here. Best of luck this season!

Hi Henry. Don't take anything Walla Walla says personally. He's very much like the "odd" uncle that no one in the family wants to associate with. Unfortunately, sometimes he finds his way on to your doorstep, ringing your doorbell. In cases like this, the "family" has found it best to ignore him and within a few minutes he will be gone!

Welcome Henry!

[ February 25, 2010, 12:26 PM: Message edited by: Gekko ]

King of Queens · Post by **King of Queens** » Thu Feb 25, 2010 6:28 am

How long has FSI been around?

What gave you the idea to start the company?

When do you pull a player from the "Insurable List"?

Has anyone been able to insure a player just before news breaks of a long-term injury?

Is there a waiting-period from policy inception to coverage date?

Gekko · Post by **Gekko** » Thu Feb 25, 2010 6:32 am

Originally posted by FantasySportsInsurance:

This is not a policy covering poor performance from a player.Henry,

Have you ever thought about going down that avenue? For instance last year David Wright was projected by many to hit between 25-30 hr's. However he only hit 10 (while playing the whole year). That one result all by itself probably cost numerous Wright owners plenty of league points, along with prize money.

Fast forward to this year, Wright is one of those players you either love or hate. He could hi 30 hr or he could struggle again and hit in the low teens. Quite a spread, and this obviously would generate interest in owners buying insurance on Wright.

Just a thought.

Quahogs · Post by **Quahogs** » Thu Feb 25, 2010 6:36 am

Originally posted by Gekko:

quote:Originally posted by FantasySportsInsurance:

This is not a policy covering poor performance from a player.Henry,

Have you ever thought about going down that avenue? For instance last year David Wright was projected by many to hit between 25-30 hr's. However he only hit 10 (while playing the whole year). That one result all by itself probably cost numerous Wright owners plenty of league points, along with prize money.

Fast forward to this year, Wright is one of those players you either love or hate. He could hi 30 hr or he could struggle again and hit in the low teens. Quite a spread, and this obviously would generate interest in owners buying insurance on Wright.

Just a thought. [/QUOTE]Mark.. at that point wouldn't it become a prop bet and he'd be a gambling site ?