'bee,

I am certain you are aware of the Smarty Party bonus that was triggered upon his Rebel, Ark Derby, Kentucky Derby Triple. I have often wondered if part of their insurance was also to place a significant sum to win on him in the win pool on Derby Day to cover the costs of the policies. Here is the article that gives a tiny bit of details but nothing on the actual policy costs.

https://www.washingtonpost.com/archive/sports/2004/05/04/smarty-move-5-million-bonus-paid-insurance/96b31c43-5517-4afb-aef8-b6f8563afd97/?utm_term=.e553684fcd9f