Patent ID: 7089191
Filing Date: 2006-08-08
Classification: G06Q

Abstract:
1. A method for insuring valuables having unpredictable fluctuating values against an insurance event, the method comprising: for each of a plurality of insurance policies, each insuring valuables having an unpredictable fluctuating value on behalf of a beneficiary, against an insurance event, in return for payment of a premium by a predetermined paying entity: preselecting at least one future date at which at least a predefined portion of the value of the valuables is to be computed using a programmed digital computer; predetermining a formula for computation of a premium as a function of the value of the valuables as computed on said at least one future date; and on said at least one future date, computing, using a programmed digital computer, the predefined portion of the value of the valuables and, if the insurance event occurred, remitting said value to the beneficiary; and on said at least one future date, if the insurance event did not occur, computing, using a programmed digital computer, the premium using said formula and debiting said premium to said paying entity.