Insurance loss for US bridge collapse could hit $3bn ( www.bbc.co.uk )

LodeMike , 2 months ago

Oh yeah because insurance companies paying what they're contractually obliged to is "loss"

Tar_alcaran , 2 months ago

Well yes, unplanned expenses in excess of income are "loss", regardless of if you're contractually obligated to do so.

I imagine the insurance agency didn't plan to pay for an entire bridge this fiscal year, so they're going to have one bigass loss.

LodeMike , 2 months ago

Insurance has overhead insurance for these things.

And if they don't they should fail.

Yrt , 2 months ago

Yeah and these reinsurances are also insurance companies, so the statement "insurances could lose up to 3bn" is still right.

Even further: most losses are booked by reinsurance companies, cause prior insurances mostly don't cover big sums on there own. It's like "10 million for me and the rest for you."

Lightborne , 2 months ago

What a bizarre comment. What are they supposed to call it, a "gain"?