Since the invention of star tools (and human nature) people have always been looking for an easy way to get these magnificent money makers. As of late, I have seen an increase in the number of scams/tool mishaps and, having fallen victim to a recent scam myself, am fed up with the losses and wanting to create at least a chance for people to get the money they spent back. Introducing my idea: ECC Liability insurance for tools. That's right, insurance! I am creating this thread to ask you, the ECC player-base, if you would purchase a policy or not. Indeed, there are some perimeters that are strenuous because of the playing conditions in ECC, but I am trying to include the most comprehensive coverage there can be. For example, situations where your insurance policy would fully cover a tool: Documented and confirmed scamming (e.g. a contract is made for the renting of a melon sword. Sword renter is banned and the sword and/or its monetary value is un-claimable from the scammer.), and the destruction of a tool while recording. Basically, these are the only ways that I can guarantee that the tools to be lost/broken (we don't want to scam the insurance now do we .) As of now, I have only thought of weekly payments to maintain your tool's coverage. It would be something like 5% of the policy's worth per week (e.g. a sword insured for 500k would have a 25k weekly payment.) Would you guys purchase insurance? Do you think this a fair rate to charge? Can you think of any other situations in which I would be able to cover your tool for?
If I owned a star tool I would think about doing this for sure- not a bad idea at all. I'm not the type who loans expensive tools to others, so this probably won't apply to me as much as other star tool owners. Would you be running this, or would this be a serer-run program? Either way, sounds like a good idea, can't wait to see more discussion here
Great idea +1 if this compensates 1 scammed player it will have done more than the whole Ecc admin team combined. Just wish there was a system in place like this when I was scammed since admins don't really seem to care.
@ChargerBoltz5 It would be run by myself But I'm fairly active on a regular basis so I wouldn't be too worries about me going MIA with an outstanding claim.
this would be really usefull to me if I knew a good recording software for my comp Do any of you guys know a good recording software for a 2001 macbook?
this would have to work off a combined pool of funds in which no-ones claim could exceed to prevent you losing money.. Will this insurance company make profit? or will the profits be put aside for future claims?
I like the idea but I am unsure of how useful this would be to most players. The things it insures are for renting and breaking. Renting: I don't see star tools traded very often, except from a few certain players. Maybe there are a lot more tools being rented than I know of though, which there is a good chance there is. It would be smart for any renter to be insured in my eyes, but I don't know of that many renters. Breaking: For breaking, you'd need to set up a recording software every time you used a star tool. More than likely, if someone is responsible enough to set up a recording device every time they use the tool, they will be responsible enough to repair the tool once every 20 mins or so. Based off this logic, I don't think insurance would help much against breaking. I personally don't think I'd be interested unless I decided to start a business in renting out star tools.
Let me just say this…I'm not running this to loose money ;P I haven't quite hashed out all the details myself but I would imagine I would try my best to cover all losses incurred by my clients.
I just think for this system to work best it'd have to be non profit (or low profit) and will require a few more people possibly as research into incidents filed will take time, (viewing user complaints, etc.) I do think however if set up correctly as @dumdum71 said this could work well among a small niche of Star tool renters / sellers. I definitely think ECC needs a system like this and if staff "don't have the time" then senior players such as yourself are ideal for the running of this organization.
As I said, I will try to make sure that all my clients are covered to the fullest possible level. Perhaps I would put up a public chart of how much money is available to be paid out and, should the company go bankrupt, the money would be given out as appropriate. That situation would be handled by myself, as it is my money, and I suppose my clients would have to be trusting that I will be fair in this endeavor and do my best to live up to their coverages.
Heck yea i would purchase this! (well, if i had a star tool that is.) Great idea, and i hope it goes well
This sounds like a very interesting idea and I am more than interested in purchasing a plan should it become available.
A flaw which you could come across is the exact monetary value of the item/s the insurance is for. Perhaps you could create a list for the main categories insurance is being given for. Ie max fort/silk tools, sets of tools, sets of armour, and the different star tools (based on monetary value), then you have to determine whether or not the items were broken or stolen, perhaps its a good idea to only use this concept for robberies
@Mysticgoli Concerning the exact monetary value, a policy may be taken out for up to the 'current market value' of a tool which will be agreed upon the time of the policy's approval. From then, the policies value is constant and recorded for all future uses. And yes, the insurance's main use will be for proven robberies, but Im also extending it to ones that have been broken while you were recording.
Hi @sick24 I think this is a really good idea! If you need any heop running it I would be glad to help you.
I suggest a trial for a few players (I'd go with 5) to see if this plan would run properly for, say a month? Also, not all players can record, I use to get 40-60fps (with optifine) and could only record at like 5fps (lol). And lastly, I think making some profit would be nice for you judging by the effort you've made so far, but what I was thinking might help in calculating the 'tax' (ie your payment) on 'clients' would be to set a price you'd like to make weekly. Say 5 players at 25k/week and you'd want 50k/week (50/125 40%tax). Then when you expand you would remain getting 50/week but the clients would be taxed less when the client base increases to like 10(50/250 20%tax). You could also go about taking 20% tax right off the bat from all those involved so that you make 5k/client, with 10 clients that's 50k/week. Up to you, but mainly the trial for trusted players who are interested as much as I am lol, kinda makes me wish I didn't sell my tools.
I would just say it wouldn't make a difference if it were staff or player run. Either one could go rogue and crazy, but I know @sick24 , and he would never go crazy. Actually, I would probably trust him over most staff.
Thank you all for your feedback, I will certainly keep this thread around for ideas to help the company run smoother! And as for everyone who has generously asked to help, THANK YOU! I was not expecting that big of a reaction O_O lol But, for now, I have chosen to start this business alone as I think it will be easier dealing with growing pains with one person as the CEO, rather than a few. But I have not ruled out, down the road, people buying in.
