Some figures to illustrate. Let's take completed Supernova for example: registered players 232, buy-in €100, prize pool €20880. If insurance will cost 1/10 part of bi it's €10. You need only 4.3% of players to buy insurance in order to get back buy-in. If there will be 10% you take 2.32 of bi, as 16-20 places, and so on. 20% it's a 4.64 of bi or 8th place, 30% it's a 6.96 of bi or 7th place, 50% it's a one bi less then 5th place, and, finally, 100% is equal to the 3rd place! Are you still laughing?