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Message: [QUOTE="The Yakk, post: 4981263, member: 9988"] I'm about to make my third "insurance" post in this discussion; if I have not yet put everyone to sleep, I will now. As it happens, as a specialty reinsurer I have been involved in both health insurance and sports/promotions markets. The businesses are very different. [LIST] [*]Profit margins are massive in the sports business, and incredibly low in health insurance. But health insurance market is 100x bigger. [*]Reinsurance is a much bigger part of health insurance, where the exposure to runaway medical costs leads to more risk sharing. Insurance companies rarely buy reinsurance for their sports business. [*]Experience is given little weight in the pricing of sports futures; it's always about looking forward to the upcoming event and not who generated a loss on prior events. [/LIST] [/QUOTE]