[Archive]

Posted By: Griffin's

Forgive my ignorance on insurance matters, since my only experience is writing checks for premiums. But I would think that before an underwriter took on a policy like this they would want to assess their risk and exposure, correct? And in doing so they would need to find out how often cards were bought back, and need the cooperation of the grading companies to do that.
If they (PSA, SGC, GAI, etc) cooperated (which I doubt, unfortunately) it would give collectors a good insight into a rough number of altered cards that get slabbed, including the true scope of the Wiwag debacle. Do insurance companies disclose their information and assessment, or is that proprietery? Would this lead to insurance ratings for PSA/SGC/GAI?

Jack, thanks for the advice I dropped earthquake insurance years ago when the deductable reached 70% of the structures value.