SLCapex topic - Insurance

Re: Insurance

Mon, 04 Aug 2008 23:29:12 -0700

iVentures, I'm looking forward at your report! I'm positive is going to be very usefull for the entire comunity.

Thank you! :-)

in topic Insurance by Eliale Morigi

Re: Insurance

Mon, 04 Aug 2008 11:57:11 -0700

Eliale, you notified me earlier regarding issuing the Greater Transparency Report. I'm currently creating a financial tool to implement a similiar report if not better that the financial market can utilize to perform due diligence and making more informative investment decisions. The testing environment is scheduled for this month and will not be in full swing until estimated September. This would allow for yourself as well to utilize the report and assess your insurance rates of the listed companies.

You can also send me an e-mail if you have other financial information that you would like to see that may assist you better.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Mon, 04 Aug 2008 10:34:59 -0700

Well, it is nice to have all this attention for a private company which is not even open!
Anyway, criticism is ok. In the past we got a lot of good suggestion with constructive criticism.

But, let’s move with some facts:

From July 2007 till January 2008 we paid out more than 1 mil. In premiums. Aprox 80% for banks failures and aprox. 20% for listed companies. Yes, before the banking ban, we started to insure listed companies. Believe me, those people who got the money are going to be our costumers again!

Redd, let me be very clear on one issue; we are neither a “charity” company nor a “government” company.

We are trying to make a profit like everybody else. Saying so, when you are saying that we are choosing only “healthy” company I can say that we are trying as much as we can.

However, is still high risk. I’ll give a past example among many:

KJL listed at WSE, one of the best companies around, weekly reports, CEO always available, a lot of verifiable land with a high occupancy rate, long history of dividends, in short what we are looking for….

Well, gone……….. Not only I lost 700k shares but I had to pay certificates which I was practically sure not to have to….. You know who bought it? Large successful investors covering themselves and their investors.

About B.I.C., This new evolution of our insurance is not for scammers…. They got our IPO money and they do not care to invest anymore.

B.I.C. it is intended for those honest CEO that feel the responsibility to get public money and they realize that, sometimes, even with their best intention and commitment, a project can fail. Not because they are dishonest but simply because it did not work….. These CEOs, in our mind, are cautious with investor’s money and they try to minimize the damage just in case something goes wrong. This is it.

How much does it cost B.I.C.? 5k lindens every 1 mil. covered……

How much does it cost for a small investors that wants to protect 5000 Lindens? 50 per month….

in topic Insurance by Eliale Morigi

Re: Insurance

Mon, 04 Aug 2008 01:13:02 -0700

Redd I agree with all but the last paragraph of your post which I disagree of the logic of and I have to say that I am disappointed with the "new" Rock Insurance, I think the only insuring certain companies for certain things is designed to make them money by minimizing their risk but they were making plenty of money even with occasionally having to pay out before and their insurance scheme now with the general fund is too convoluted for most people to understand not to mention to have people be willing to spend money in.

in topic Insurance by Gordon Wendt

Re: Insurance

Sun, 03 Aug 2008 22:35:02 -0700

Personally I strongly recommend that no one purchases this insurance, as the costs appear to be more than the benefit by quite a bit. They are effectively only insuring (some) companies that are doing well, and not insuring any companies that are likely to be in trouble (and these "certificates" are only good for a month anyways if I am understanding this correctly). It's kind of like offering flood insurance in the middle of a desert or fire insurance in the vacuum of space.

And their BIC coverage appears to work as either an out so that they don't have to pay 100% if the CEO of a company does not pay the premium for this coverage and as a way to try to get the stockholders to pressure the CEO's into carrying this coverage.

"When a company has B.I.C. (Basic insurance Coverage) our ATM’s will offer additional insurance certificates for those shareholders that are looking to have a 100% coverage.” Thus the 100% coverage that they say is payable on another page is only valid if this BIC coverage is also carried (and I have not seen how much they actually cover if this is not covered, unless I'm misunderstanding this whole BIC explanation, which admittedly is possible, and if such is the case I'd like for someone to clear this up for me).

Thus they only cover those companies that are healthy and that they approve ahead of time (without complete and clear standards (that actually make sense from a business standpoint) as to why some companies don't appear to be covered and others do). However as such, these companies are unlikely to fail anyways, whereas those that are more likely to fail, they will drop coverage of (and since their coverage only lasts 30 days, it will be an easy task for them to drop such companies that do move towards needing such coverage by their stockholders). So the only other reason to carry the insurance might be to cover some unexpected rule-change that LL may hand down... but wait, that is not covered either: "Coverage is granted for bankruptcy only . Coverage is not provided if LL decides to change rules causing involuntary bankruptcies"

Then there is the simple fact that if someone cannot afford to lose the funds that they have invested, they should not have invested them in the first place. Investments are risky, and especially so in SL due to the rampant fraud and disappearing CEO's. But the simple fact of the matter is that I cannot see a CEO paying 6% annually to increase the coverage for their shareholders, while those shareholders are also paying money to an insurance provider for coverage that may not be covered when it comes down to it. If people are so concerned about their investments, then they would be wiser to simply keep a closer eye on those investments and learn as much about those investments before making them. In which case such insurance should not be needed.

in topic Insurance by Redd Oconnell

Re: Insurance

Wed, 16 Jul 2008 08:31:13 -0700

Yes Eliale, my goal was for this report to be automated to benefit the whole financial market. I would like to pursue further, but cannot without SL CAPEX assistance. Afterall, it's their platform.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Wed, 16 Jul 2008 08:18:19 -0700

iVentures,

It is my strong belief that such a report could be very useful not only for The Rock but for everybody.

Also, is going to give Capex a strong plus vs other exchanges.

I really hope you can close the deal!

in topic Insurance by Eliale Morigi

Re: Insurance

Wed, 16 Jul 2008 08:13:36 -0700

Eliale,

We spoke briefly in-world regarding how iVentures Group can assist you. I have received positive feedbacks from both Chango and Guardian Market regarding how we can automate The Greater Transparency Report for both financial and accounting purposes. We are still waiting for SL CAPEX to make the announcement regarding this matter in order to pursue further.

If the report becomes effective for this Exchange, you can utilize this as an additional factor to determine the Insurance Premiums.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Wed, 16 Jul 2008 07:53:57 -0700

Hello Scott,

In order to be listed for the Initial Simple Coverage, is enough to prove a good track record which may include: Communication, dividends, verifiable assets and any other positive information.

Easy to maintain listing if you do a good work for the shareholders :-)

However, to get B.I.C., which is a more extensive coverage, you will have to apply and provide more detailed information.

B.I.C. applications will be ready by August first.

in topic Insurance by Eliale Morigi

Re: Insurance

Wed, 16 Jul 2008 07:22:59 -0700

Eliale,

I was thrilled to see NIC and DCTY on the list of companies that you will insure.

Please contact me anytime with questions or requirements to insure that these 2 companies stay on your list.

Thank you,

Scott Nestler

nestler.investments@gmail.com

in topic Insurance by Scott Nestler

Re: Insurance

Wed, 16 Jul 2008 02:25:38 -0700

Well, obviously I cannot verify if an Exchange is removing posts but, considering the amount of criticism I can read on SLCapex forum, I have to say that their level of “censorship” is quite elevated.

Telling the truth, sometimes I’m quite surprise that they are not removing some posts….

in topic Insurance by Eliale Morigi

Re: Insurance

Wed, 16 Jul 2008 01:49:47 -0700

Eliale,

You speak of the requisite, that it is to have a forum without censorship, How do you figure SLCapEx to fit your list ?

SLCapEx deletes complete posts without even having the
decency to leave a message that the post was removed.

Censorship oke ... you blackout the words that are intollerable thats fine, but making complete posts simply vanish because they contain critisism or content that does not speak beneficial on their behave is quite different.

But then again, I understand there will be little left to work with if SLCapEx is also excluded from your list.

in topic Insurance by Ironfist Hutchinson

Re: Insurance

Tue, 15 Jul 2008 06:06:12 -0700

The Rock will re-open end of July beginning of august. In order to qualify for insurance coverage, the exchange must qualify in first place.

As I’m writing 3 exchanges qualifies: SLCapex, ISE and Vstex.

Please note: it does not mean that companies within excluded exchanges do not have the requisites to get insurance but, until the exchange not covered does not maintain minimum requisites, we will not provide insurance to any company listed within. Among the requisites we are looking for are the top 10 shareholders lists and an active forum without censorship.

Within the 3 above exchanges we decided to provide initial simple coverage to some listed companies which you may already see on our website www.therockinsurance.com . This list can change at any moment.

However, certificates are limited in amounts and availability (certificates will be available on August 1st).

In order to get better coverage and greater limits, Companies CEO’s have to apply for B.I.C. (see on our website or on previous posts).

B.I.C. will provide a basic insurance for ALL shareholders and possibility to buy extra insurance for whoever may like to do so.

More news will come in the next weeks.

Regards,

Eliale Morigi
www.therockinsurance.com

in topic Insurance by Eliale Morigi

Re: Insurance

Tue, 17 Jun 2008 11:03:53 -0700

My 2 cents.

If the Exchanges are in fact competitors and follow the "do what you I will approach", we increase the risk of LL intervening and everyone would lose. Of course, Exchanges want to bring in as many listed companies as possible following their guidelines. From what I recall, Bo has previously communicated with Samantha into possibly creating more stringent rules or a revision of existing policies of listing requirements to further ensure investor protection. This is all possible if we look at the bigger picture, which is to create a safer financial market for everyone.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Tue, 17 Jun 2008 00:44:39 -0700

I am pro bringing insurance into the stock exchanges in SL. The more stock exchanges willing to go with this great idea the better it is.

Of course the stock exchanges are each others competitors, but even so, there could still be an overall benefit for all, by working together on different topics.

It is time for working together in SL more than against each other, for all of us.

Bims Writer

in topic Insurance by Bims Writer

Re: Insurance

Mon, 16 Jun 2008 12:23:23 -0700

Thanks Eliale for clarification. It's great to know that you are willing to invest your personal funds into this business venture instead of utilizing OPM. Best of luck.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Mon, 16 Jun 2008 00:30:09 -0700

Update:

In the past few days I have been talking with my CTO Paci Barbarossa and few people around. We come to the conclusion that The Rock will be back.

However, in the first phase, we do not believe that we will be able to enforce Insurance directly from a TOS imposed by any exchange.

This mean that, most likely, we will provide “standard insurance coverage” for those listed companies that, in our opinion, deserve it and, for a selected few we will offer B.I.C. (see previous posts).

Timing: not before second half of july. Why? Because I need to re-fund our intangible security cash deposits and, Paci is going on vacation!

Please, you help is important. Any constructive suggestion will be taken in consideration.

Thank you!
www.therockinsurance.com

in topic Insurance by Eliale Morigi

Re: Insurance

Sat, 14 Jun 2008 08:03:58 -0700

Second Life has not even been around for 100 months (8 years 4 months)

in topic Insurance by Bart Heart

Re: Insurance

Sat, 14 Jun 2008 07:07:45 -0700

IVentures,

similar answer to you.

But, please, always remember that I fully realize is a challenging project and that is why I'm not asking public financial resources.... If I lose, I lose my personal money

well, I hope not!

in topic Insurance by Eliale Morigi

Re: Insurance

Sat, 14 Jun 2008 07:02:23 -0700

Guardian,

Your mathematical analysis is always correct! This particular one is very easy to calculate but, I know from previous conversations with you that you are very knowledgeable and, most of the times, I would not possible match with you.

This is why I’m always listening to you with interest.

Definitely risk diffusion is one important factor. This is why is important the exchange cooperation to request companies to be insured. Also not necessarily we will always have to pay top risk premium.

But, insurance is only one field of our possible expansion plan. No use to talk about other projects right now when we still have to decide if we are going or not to start again :-)

in topic Insurance by Eliale Morigi

Re: Insurance

Sat, 14 Jun 2008 06:36:31 -0700

From what I recall, WSE as the first exchange, launched around Jan 07. How many of these listed companies still exist? And how many of these listed companies do you think will continue to exist by 2010? How would the insurer cover all of these if the companies start to disappear like flies? If you consider the recent events, there's been a handful of delisted companies. The Exchanges may continue to exist if LL does not intervene, but the life of the listed companies are definitely questionable. Something to consider as well Eliale.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Sat, 14 Jun 2008 05:16:25 -0700

I hate to be the naysayer in this thread (which I missed for a couple days...sorry about that), but I'm thinking the price is too low for the severity and variance of defaults.

Let me put it this way...

The price is .50% of IPO value covering up to 50% of IPO value with a max of 3M lindens. If we assume no interest, that means a company is going to have to survive 100 months just to recoup the value of the payout. How many SL companies have survived more than 100 months to date? None, because the exchanges haven't even been open that long.

I understand that the above is a simple analysis and there is significant risk diffusion by insuring multiple risks. Also, While I am studying this stuff, I don't work as an insurance actuary and I'm just now studying how to set distributions for claim frequency and severity and the like...and it'll probably be later this year before I feel close to comfortable with it.

Still, I'd LOVE to see (under agreement of non-disclosure, if necessary) the calculations used to compute the premiums, Eliale.

in topic Insurance by Guardian Market

Re: Insurance

Fri, 13 Jun 2008 17:23:54 -0700

I know I for one would love to see the exchanges consider such an arrangement and see Rock reopen.

in topic Insurance by Mateo Infinity

Re: Insurance

Fri, 13 Jun 2008 10:04:37 -0700

Thank you!

I believe I'll need a lot of advices! :-)

in topic Insurance by Eliale Morigi

Re: Insurance

Fri, 13 Jun 2008 09:48:17 -0700

Best of luck Eliale with the reopen of The Rock Insurance.

If you require an advisor with knowledge of the financial markets, you can contact me anytime.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Fri, 13 Jun 2008 09:16:46 -0700

Iventures,

when I decided to open The Rock Insurance, many people asked me why not doing an IPO.

Problem was and is, that with my mentality, before asking anyone financial resources, I have to be as much as I can positive about the outcome.

The Rock Insurance was a unique experience with no track record and no other examples to follow. Too risky to ask for investor’s money.

If I’ll re-open The Rock, at the present moment I’m making some thoughts with my CTO Paci Barbarossa, I’ll will not ask for outside investor resources.

I’ll set up limits balanced with financial resources I can dedicate at the project (I still have to figure it out).

Eventually, if the “experiment” down the road will be proven to be successful and properly tested, I’ll may consider going public for further expansion. Not before.

We had an we still have too many examples of “entrepreneurs” with great ideas but not willing to sacrifice one single linden for their magic’s….

in topic Insurance by Eliale Morigi

Re: Insurance

Fri, 13 Jun 2008 08:42:07 -0700

What is everyone's opinion on bringing an insurance program into CapEx?

Will it bring back the investment levels from before the banking ban?

-Scott

in topic Insurance by Scott Nestler

Re: Insurance

Fri, 13 Jun 2008 08:41:15 -0700

Eliale,

If the insurance idea goes through with the Exchanges, what type of financial resources are you looking for? Would you consider additional funding from external parties and would you happen to know the estimated amount? For instance, my scenario is as such:

An external party (private investor such as myself) funds <--> You (insurer) have additional financial resources for coverage and pays interests at a fixed apr % <--> Investors are happy that they are covered

Let me know your thoughts on this proposition.

iV

in topic Insurance by iVentures Volitant

Re: Insurance

Thu, 12 Jun 2008 23:04:52 -0700

ehehe, while I was sleeping, Bogart answered for me :-)

The Rock for now is not yet back, we are just exchanging some constructive ideas for the future

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 16:45:25 -0700

Funny Cayman... ok well... NOT!

in topic Insurance by Bogart Beck

Re: Insurance

Thu, 12 Jun 2008 15:30:05 -0700

The Rock is back.............great, could I have insurance for LCA and LNL?

Regards,

CB

in topic Insurance by Cayman Beaumont

Re: Insurance

Thu, 12 Jun 2008 14:42:20 -0700

send me a email

nestler.investments@gmail.com

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 14:38:05 -0700

Push the right buttons!

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 14:31:10 -0700

Eliale, get back in

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 14:25:12 -0700

Andy, if I'm going back into business, I'll get you as an advisor! :-)

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 14:19:20 -0700

It depends how you structure it, if you do it like shaun altmans fund... where theres no liquidity issue, ppl would be interrested to invest in the insurance additionaly to the stock.

So basicly peer-to-peer trading would not be possible but rather you as a "pawnshop", where you could additionaly charge a small % transaction fee. And price would automaticaly adjust up and down based on supply/demand growth.

Forget what i said earlier, you would infact make more money this way :)

in topic Insurance by Andy Grant

Re: Insurance

Thu, 12 Jun 2008 14:14:34 -0700

btw, if someone else wants to take the initiative to provide insurance, finally I'll get some protection for myself as well :-)

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 14:13:00 -0700

Thank you Scott for your trust.

However, the best way to get such a plan implemented is by “popular demand from the market”. If most of the CEO’s and shareholders will start to ask for “an insurance plan” to exchanges management, maybe is going to be feasible.

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 14:06:25 -0700

It could be a good idea to evaluate. New ideas are always welcome.

Problem I can see is to find speculators but, you never know!

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 14:04:59 -0700

Eliale,

If you can make it work, I would be interested for my 2 listed companies

-Scott

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 14:00:11 -0700

Hmm, to avoid that "doomsday scenario" you could do what US banks did in RL... sell each insurance (in each company at a premium) as a "tradable commodity" to investors, the idea investors would then receive a small cut of your profit if it goes well, while if a company starts looking bad, investors would then not receive a premium and automaticaly the price of it would go down, that way you can profit some extra off "bad debt".

Not sure if you follow me... say a company goes down under in case you managed to sell 50% of the debt to speculators, then you'd only have to pay 25% of the initial insurance (since they bought 50% of it from you, and it becomes worthless, you keep speculators money to help payoff the bancrupt company), the disadvantage you'll make less money on your insurance operation, but you risk less or close to none if it attracts enough investors.

Does it make sense ?

in topic Insurance by Andy Grant

Re: Insurance

Thu, 12 Jun 2008 13:49:04 -0700

ehehe Scott, slow down...

This plan could work if the exchange impose it to all theirs listed companies.... better if the 3 exchanges adopt the same system.

Also, if I have to start up The Rock for such a plan I have to:

Get financial resources inworld to provide enough coverage. Since january I utilize it :)

Get my CTO Paci Barbarossa back to work, he is quite busy in RL and leaving for a very nice vacation! He is the only one I can trust because he did the site and is fully trustable.

In the best case scenario, at least 2 months to be operative

Andy, like I use to do for the banks, I use to mantain enough liquidity to cover the biggest single lost I could have. Of course, if ALL companies would bankrupt at THE SAME TIME well, to be honest with you, I would have a very big problem :)

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 13:37:57 -0700

Sounds like prety reasonable pricing (for investors), what do you do in case more ceo's than you can handle start to disappear ?

Change pricing ?

in topic Insurance by Andy Grant

Re: Insurance

Thu, 12 Jun 2008 13:34:18 -0700

Where does a CEO sign up?

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 13:30:57 -0700

Let's say 10 million shares IPO, of which 51% in the hands of management, makes a total "insurable" of 4.9 millions

4.9 millions at .50% = 24.500 lindens x month

In case of bankruptcy, shareholders will get 50% of 4.9 millions = 2.45 Millions proportionally disbursed.

Management or alt of management 000000000000

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 13:20:52 -0700

So, If a company has 10 million shares that IPO'd at 1L then the maximum number of shares to be covered would be 6 million, correct.

A CEO would then have to maintain ownership of 4 million shares to maintain full coverage for share holders.

And the premium per month would be 15k linden

Am I correct?

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 13:04:52 -0700

Scott,

just to give you an idea, the following was a proposal which I sent to Capex end of january:

Capex Protection Plan

Provided by The Rock Insurance Co.

Basic Coverage for Listed Companies in Business for at least 4 months:

In order to get basic coverage you need to be in business for at least 4 months, obey SLCapex TOS, provide proper information to the shareholders and maintain good financial results.

Cost of insurance paid by the company is 0.50% of initial IPO value per month payable the first day of each month.

Our coverage in case of Bankruptcy only will be 50% of the IPO value disbursed proportionally to all shareholders. Shareholders list will be provided by Capex.

Also, we are going to provide insurance certificates to the shareholders at 1% per month in order to give them additional protection independently.

Exceptions:

At the moment we accept a listed company for insurance coverage, if the market value is 15% or more below original IPO, our coverage will be proportionally less. When initial coverage is set we will maintain it.

Maximum exposure limit for each company is 3 millions linden. We reserve the right to pay amounts over 50,000 lindens via Paypal.

Insurance is not provided if:

Linden Lab decides to ban Exchanges (act of God)

Company does not paid insurance coverage

Company does not obey SLCapex rules

Insured avatars are part of the management or alt of the management.

Company maintains 2 consecutives negative financials (in this case we can analyze the reason and decide if we can continue Insurance coverage).

For IPO companies and less then 4 months old companies, I need inputs from you

Again, the above was a draft proposal subject to changes.

the 3 milions max limit was valid in january... since then I bought few things :-)))

It is my opinion that such a plan may work if the exchanges (better all 3) impose it. Single companies alone, I have some doubts...

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 12:28:42 -0700

Eliale,

What would the costs for a policy be for a company trading on CapEx?

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 12:10:48 -0700

I've thought about this and i figured the following...

If the company or the investor is to pay into a insurance program, the ceo could aswell pay higher dividends or the shareholder could invest some % less... exactly same result.

The only solution is for companies to offer land and/or technology/inventory as collateral. As i described here: http://intlstockexchange.com/punbb/viewpoll.php?id=287&p=2 (scroll to the very bottom of the page)

Insurace/fraudfunds are just hidden costs.

in topic Insurance by Andy Grant

Re: Insurance

Thu, 12 Jun 2008 11:39:22 -0700

Up to the banking ban, The Rock paid almost 1 million lindens in insurances certificates.

System was becoming quite successful on both ends. We were getting more and more attention and customers and, vice versa we were providing a protection system.

Far to be perfect but a beginning.

After the banking ban, obviously, we had to think about a new concept and we come out with the B.I.C. (basic insurance coverage) for listed companies.

Here a brief description available on the site:

1. What is BIC aka Basic Insurance Coverage?

Company CEO has to request a “Basic Insurance Coverage” for its company.
The company will pay The Rock a basic monthly premium and The Rock will guarantee a coverage of 50% of the IPO value in case of bankruptcy to be payable to ALL the shareholders.

If, at the moment of the application, market value is more than 20% below the original IPO, we will adjust our coverage/premium proportionally.

When a company has B.I.C. (Basic insurance Coverage) our ATM’s will offer additional insurance certificates for those shareholders that are looking to have a 100% coverage.

Our standards security limits and not invested cash reserves will apply as usual.

Coverage is granted for bankruptcy only . Coverage is not provided if LL decides to change rules causing involuntary bankruptcies
-------------------------------------------------------

Problem was that, single CEO’s, after they cashed the IPO money, did not feel the necessity of such a cost.

Therefore, the only way out we saw was to propose the plan to Capex management in first place aimed to find an agreement where, in order to be listed, it was mandatory for the companies to get B.I.C..

Probably, with all the problems arose after the banking ban, our project got lost in order to take care of more immediate and understandable problems.

However, we strongly believe that if the 3 CEO’s of SLCAPEX, ISE and VSTEX would mutually agree to implement such or a similar project from The Rock or any other similar company, some protection for the shareholder would be granted

in topic Insurance by Eliale Morigi

Re: Insurance

Thu, 12 Jun 2008 11:04:48 -0700

iVentures,

I do not know how the Rock used to do it, but they did.

-Scott

in topic Insurance by Scott Nestler

Re: Insurance

Thu, 12 Jun 2008 11:01:52 -0700

Something like the WTF fund on the World Stock Exchange? I have heard nothing from about 1/3 of all SL companies (including companies like Apez and SL Exchange) for about 6 months. They might as well be delisted too. Other companies have "delisted" and "may" repay shareholder ie: SL Wizard. While going broke is not a crime, just "vanishing" sort of is .. like WSE.

in topic Insurance by William Rustamova

Re: Insurance

Thu, 12 Jun 2008 11:01:05 -0700

That would put too much liability on the insurer as SL investments are 100% risky. It's unlike the RW where the SEC exists. An equivalent of SEC may require LL intervention. Without LL, there's no way insurance can work effectively. That brings up to my question, how efficient and promising is The Rock Insurance?

iV

in topic Insurance by iVentures Volitant

Insurance

Thu, 12 Jun 2008 10:36:13 -0700

I am starting to think that we should being back a mechanism, like the rock insurance company. Something that CEO's would contribute to that will insure at least a set value for each listed company.

Today both LLFS and LCA were delisted, shareholders are now "in the wind" as far as having anyone look out for their interests.

Back before the interest ban, if I had a policy on LLFS at least I would be getting something for the shares I had.

Anyone have thoughts on this?

in topic Insurance by Scott Nestler