No, but they planned for one bridge every 50 years. So this is that year.
Comment on Insurance loss for US bridge collapse could hit $3bn
Tar_alcaran@sh.itjust.works 7 months agoWell 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.
ikidd@lemmy.world 7 months ago
LodeMike@lemmy.today 7 months ago
Insurance has overhead insurance for these things.
And if they don’t they should fail.
Yrt@feddit.de 7 months ago
Yeah and these reinsurances are also insurance companies, so the statement “insurances could lose up to 1.3bn” 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.”