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Friday, March 18, 2011
Claim denial
This guy made a 175 foot shot into an opening that was less than an inch wider than the puck itself. The prize was 50,000$, which he said (before he took the shot) he would donate to a heart foundation (in honor of his heart surgery). However, the problem is that no one told him the shot had to be 180 feet (he had to be being the goal line).
These events are insured so that the team doesn’t have to pay out the winnings. They pay a premium say 500$ (on the expectation this is a 1 in a 100 shot), plus a vig to the underwriter for the risk. The underwriter (unnamed) refused the claim. This however looks bad for the team, Indiana Ice and the sponsor of the event, AllState. Especially for AllState because it would be presumed that an insurance company sponsoring the event would also be the underwriter of that event. Anyway, the Indiana Ice stepped up, and donated the 50K, and AllState stepped up, and also donated 50K.
Should we have scorn for the unnamed underwriter? Or, does there seem to be a lack of seriousness by the team organizers in ensuring that the puck is placed where it should be placed, and the participants are told to stand where they should stand? This isn’t the first time. If you remember, there was a kid who threw a three-quarter court basket for a million bucks, only to have his claim denied because he was a college athlete, something that the underwriter said would disqualify him.
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