Anthony Giaccone and Henry Olszewski are insurance brokers at Long Island’s Intermarket Insurance Agency, Inc. And they officially are also the greatest inventors ever, having crafted a way for fantasy football owners to take out insurance policies on their star players. Where were these guys last year when I had Tom Brady?! Actually, that Brady injury in Week 1 of last year was the very impetus behind what is now FantasySportsInsurance.com.
Before the first weekend of the NFL season, the fantasy owner selects the player he wishes to insure — let’s say it’s his top pick, Peyton Manning of Indianapolis. He then enters his league entry fee ($250 for this scenario, though FSI offers claims up to $1,000), transaction fees ($0), and money spent on additional expenses, like magazines and online subscriptions ($15).
FSI then determines the cost of the policy based on those numbers, with every top-50 player — from the chronically-injured Steven Jackson of the St. Louis Rams to the Atlanta Falcons’ relatively sturdy Michael Turner. In this case, insuring Mr. Manning for a 15-game fantasy season would cost $29.87. For just under $30, an owner who loses Mr. Manning to injury for 10 of his 15 fantasy games would recoup the entire $265 he spent on his fantasy team from FSI. And he could still replace the star quarterback with a waiver-wire pickup and salvage the season anyway. via.
Terrific. Now can I buy insurance that will bring me new friends if they decide I’m too obsessed with fantasy sports and they stop talking to me? Eh, I’m only kidding. Like I have any friends… Thanks, flubby.