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blankseplocked Dynamic Insurance + Insurance Companies
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Draec Sjet
Dark Knights of Deneb
Against ALL Authorities
Posted - 2007.05.27 12:11:00 - [1]

Edited by: Draec Sjet on 27/05/2007 12:27:41
Edited by: Draec Sjet on 27/05/2007 12:22:58
I was thinking about insurance recently, as I've never liked the huge costs it involves to insure a ship. I was wondering, if you could have Dynamic Insurance, that would monitor how your last Insurance Contract expired. If you got it blown up, your Premium (the cost to cover the ship) would rise. Having the Contract expire naturally would result in lower costs next time you came to Insure it (you'd gain favor with the insurance company as you didn't claim) and you could also renew a contract for so many percent less. If your contract expired but no combat was found, then it'd be obvious you were Insurance Scamming by blowing up your own ship, and your Payout would be minimal and you'd lose favor with the Insurance Company.

Ergo because of the more complicated nature of Insurance as a result of this (and the many people who rave about how complicated EVE is) I think we should be able to start up our own Insurance Companies. When you chose one, you'd be given a standing, and this standing would increase or decrease depending on the amount of claims you did or didn't make. This Standing would be the modifier to the costs of insuring your next ship.

so, for example;

I want to insure an Armageddon. I'm new to this Insurance Company, and I've just bought the Armageddon. If the Insurance Companies were Region Based NPC controlled, then you could factor in Standings from the Corporation that own the Station you're docked in. If the Insurance Company was Human Controlled, your Standings with that corporation would be used.

The base rate of insurance for an Armageddon is say 19mil. I have a Standing with this Corporation of +0.3. This figure would be multiplied by 6 and used as a percentage to automatically reduce your Insurance Contract (10.00 would be 60% reduction). So, the Insurance Costs would be reduced by 1.8% which in the case of the Armageddon would be 342,000 isk. Not very much, but then you've only just joined the Insurance Company. If you had a 10.00 rating, you'd get 11,400,000 isk off.

Now, after a few weeks, my Armageddon gets into a battle, and I lose. The Insurance Company get a copy of my Kill Mail, and can see what has happened. I was flying about in Jita but got attacked by people I was in a war with. (example) So my Standing with the Insurance Company would Decrease by 0.5. (0.5 is a set vaule for losing a ship in a battle in a low risk zone such as Jita). My Standing with the Insurance Corp is now -0.2. This Causes my next Insurance Contract to go up in price; in the case of the Armageddon, it would be 228,000 isk more expensive.

Now say I buy a new Armageddon and the Contract Expires naturally. The Insurance Company is notified of this, and your Standing would improve by 1.0. You're now at +0.8 with your Insurance Company. This means a 4.8% Reduction for having good Standing with the Company, which is 912,000 isk.

Just an idea :)


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