Insurance contracts issued by players to other players?

This thread is an extension of Clone and Implants insurance.
Clone and Implants insurance? - EVE Technology and Research Center / Player Features & Ideas - EVE Online Forums
The Original thread moved in a direction where the idea that Players could form Insurance companies,
or act like one on Behalf of themselves or their corporation.

In order to do so, a special Insurance contract available to players to fill, with a list of options,
would be a trailbazer to an entire new system of thinking Entrepeneurship in the Eve market Universe.

As anything else created or managed by players it would be susceptible to fraud and abuse. And it 100% would be…

Alliances already do this with their ship replacement programs.

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Agreed, but with a complex enough system in place it can be made in such a way that it could be at least a minimum anti-fraud.

Then players who decides to enter the business should decide, with the rules and skill set in place needed for such a system revolution to work, have the arbitration necessary for making the right move.

Example of rules, can be a calculation of the survivability rate for all capsuleer, for clones loss, value of ships lost, and other useful stats other than security status… which is already in place… to calculate the lenght of each insurance contract, that could be mission based, or time based…

Then if the fraud would overcome the Eve rules, like purchasing Plex outside of Eve or such, that is another matter… I’m unable to chime on that…

Not as a business model.