Crowdfunding Insurance

[CanadianAvenger]

Apparently Indiegogo is trialing insurance on crowdfunding campaigns. basically you opt-in for the insurance, at some additional cost. But if the campaign fails to deliver within the allotted time limit, you can get your money back [less the insurance cost]  Interesting idea, and might help restore some confidence in Indiegogo... but also might give scammers a clearer conscience, as now their victims are protected, and the corporation is taking the hit instead.

http://www.cnet.com/news/indiegogo-trials-crowdfunding-insurance-for-failed-projects/#ftag=YHF65cbda0

[tom66]

This could be good. It gives IGG an incentive to check project legitimacy. I hope the insurance is underwritten with an actual insurer (I'm guessing it's not legal to sell insurance if it is not. Otherwise, a particularly big project could cost IGG a lot, possibly enough to put them in the red...)

Perhaps before releasing funds it would be possible to check if the claims the project makers had made were correct. For example if they actually have a prototype, if those are their real names, etc.

[ozwolf]

Too late for those of us who supported the BE Maker campaign https://www.indiegogo.com/projects/be-maker-kit-plus-free-lessons-on-electronics-from-zero-to-internet-of-things/x/4697726#comments.

What a mess!!!

[Dongulus]

Too late for those of us who supported the BE Maker campaign https://www.indiegogo.com/projects/be-maker-kit-plus-free-lessons-on-electronics-from-zero-to-internet-of-things/x/4697726#comments.

What a mess!!!

Yeesh, I hadn't heard about this one before. I can't quite tell the details about what happened with this campaign, but whatever happened has certainly caused critical levels of rage in the comments section.

[tom66]

Looks like the guy was still learning how to design electronics after finishing crowdfunding...

Protip: Have design prototypes **finished** before starting the campaign, people.

[johnboxall]

Too late for those of us who supported the BE Maker campaign https://www.indiegogo.com/projects/be-maker-kit-plus-free-lessons-on-electronics-from-zero-to-internet-of-things/x/4697726#comments.

What a mess!!!

Yeesh, I hadn't heard about this one before. I can't quite tell the details about what happened with this campaign, but whatever happened has certainly caused critical levels of rage in the comments section.

http://kicksucker2013.blogspot.com/2014/09/be-maker-smartmakers-harold-f-timmis.html

[george graves]

Interesting read: http://insitu64.tumblr.com/post/71160940845/kickstarter-and-the-big-con