PokerOwned Insurance

[Zab]

One of the things that really bugs me is people getting screwed in the Loan Shark (And Marketplace).

Here's my thought..

I want to build up an insurance program. Every transfer \ loan \ marketplace I will deduct 1-2% which will go in an 'insurance bank'.

If someone defaults on a loan, you can request "INSURANCE".

I will then take a look at who you insured and make sure nothing shady is going on. 1 of 3 things will happen at that point:

- I will approve your insurance request and you will receive 10-15% of the points owed to you ONCE per week
- I will approve your entire claim (This would usually happen if you are owed like 45 points or something and 10-15% doesn't make sense)
- I will deny your request for this week because I think it was a bad loan to make (New person, Multi Accounter, or I think there's some shady stuff going on) or there isn't enough points in the Insurance Pot to cover you.

The idea is you get to try making a claim only once per week, so EVENTUALLY you would get your points back.

You can only get insurance on the principle, not interest or 10% bonus on default.

You can only make a request once per week.

If your loan gets paid off while you were gone or WHATEVER, you still cannot request a loan until you REPAY the any insurance paid + any principle remaining + interest + default.


Thoughts?

[SendCookies]

Man sound complex zab. I've been thinkin on this as well, buy I think it would work better the other way.

This is what I mean. So, 4% is deducted for promos. Deduct another 4% as insurance against that person only. So, it builds until it reaches 2k or 3k for each member and that is held by you against that member defrauding another member. U can stop after that amount or keep collecting and repay it to each member at the end of each week. It's like a bonus, for being a good member of the community, and insurance against those that would want to defraud the community.

[kozikpro]

fine

[Poof]

I think it sounds like a good idea, but my stance in general about the loans is don't lend what you cannot afford to lose and if you make a bad one, it is a lesson learned.

[Zab]

"So, it builds until it reaches 2k or 3k for each member"

That's A LOT of points especially for new people

[Zab]

I think it sounds like a good idea, but my stance in general about the loans is don't lend what you cannot afford to lose and if you make a bad one, it is a lesson learned.

Yes but the biggest issue is people defaulting on loans.. It's a problem. I don't know what else to do except stop loaning, marketplace, staking and i dont want that at all

[SendCookies]

That's A LOT of points especially for new people

Of course. no noob would reach it right away. it would take quite awhile. but hey, better than nothings?

[CoolJakeB]

I'm not sure if I like this idea to be honest.

I think the best update to the loan shark right now would be to be able to debt collect multi-accounters other accounts.

[Zab]

I dont know if I can do that.. The logistics is hard.. + people use proxies so you'd have to prove their other accounts..

[Drivembig]

I think it sounds like a good idea, but my stance in general about the loans is don't lend what you cannot afford to lose and if you make a bad one, it is a lesson learned.

Personally, I think that if you loan someone points then its on the loaner. It shouldn't be other peoples responsibility to help them out. I have only loaned once, and have never asked for a loan. If I need points I think you provide plenty enough avenues to obtain them. People just need to get off their a** and earn them. I know in some cases people need to ask for a loan, but in the loaner's case it should be all on them if they choose to do so. IMO.