It could cost insurance companies $1.2bn for the bridge damages and millions more for the six deaths.
Archived version: archive.ph/cpwMp
Insurance loss for US bridge collapse could hit $3bn
Submitted 7 months ago by BrikoX@lemmy.zip to globalnews@lemmy.zip
https://www.bbc.co.uk/news/world-us-canada-68688856
LodeMike@lemmy.today 7 months ago
Oh yeah because insurance companies paying what they’re contractually obliged to is “loss”
Tar_alcaran@sh.itjust.works 7 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@lemmy.today 7 months ago
Insurance has overhead insurance for these things.
And if they don’t they should fail.
ikidd@lemmy.world 7 months ago
No, but they planned for one bridge every 50 years. So this is that year.
Rentlar@lemmy.ca 7 months ago
Insurance thought they found an infinite money glitch to get big sums of money forever unless the bridge collapses, but it relied on the bridge not collapsing. Whoops.
Lightborne@lemmy.world 7 months ago
What a bizarre comment. What are they supposed to call it, a “gain”?
LodeMike@lemmy.today 7 months ago
Cost/expense.