Financial insurance product
OwnerMarc Diamondinventor
Life of this patent
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Abstract
The invention pertains to a financial product having an insurance component covering only an amount of capital at risk that exceeds a replacement cost of an asset collateralizing the capital. The product includes a payment component that provides a payment equal to at least a portion of the amount of capital at risk in excess of the replacement cost of the asset, upon loss of the asset. In the preferred embodiment the payment may be substantially equal to the amount of capital at risk in excess of the replacement cost.
Claims50
A financial insurance product comprising:
- an insurance component covering an amount of capital at risk that exceeds a replacement cost of an asset collateralizing said capital, said insurance component requiring that said asset be insured by at least one separate insurance policy for the replacement cost of said asset;
- and
- a payment component providing payment equal to at least a portion of the amount of capital at risk in excess of said replacement cost upon loss of the asset and subsequent to substantial payment of said replacement cost of said asset by said separate insurance policy.
A financial insurance product comprising:
- an insurance component covering only an amount of capital at risk that exceeds a replacement cost of an asset collateralizing said capital;
- and
- a payment component providing payment equal to at least a portion of the amount of capital at risk in excess of said replacement cost upon loss of the asset.
A method of insuring against loss of an amount of capital at risk, comprising:
- covering an amount of capital at risk that exceeds a replacement cost of an asset collateralizing said capital, said insurance component requiring that said asset be insured by at least one separate insurance policy for the replacement cost of said asset;
- and
- providing a payment equal to at least a portion of the amount of capital at risk in excess of said replacement cost upon loss of the asset and subsequent to substantial payment of said replacement cost of said asset by said separate insurance policy.
Dependencies are inferred from the claim text.