> you can't buy pandemic insurance generally Wimbledon has been buying pandemic insurance for 24 years. $2 million per year. They're going to be paid by their

> you can't buy pandemic insurance generally Wimbledon has been buying pandemic insurance for 24 years. $2 million per year. They're going to be paid by their insurer about $141 million.[1] There is a whole industry of re-insurance that exists to insure high-consequence, low-probability events, such as natural disasters, war, and pandemic. SXSW didn't buy pandemic insurance. Why on earth should they be made whole for their bad decisions? The airlines made bad decisions that put their stockholder's equity at risk. There is no reason that now, having received $50 billion or so in profit from buybacks we should give them another $50 billion, while leaving their employees penniless. Moral hazard is exactly the right term. It describes a perverse incentive to cause someone else to incur expense for your benefit without any benefit to them in return. Improperly planning for pandemic, when everyone, and I do mean everyone who does risk analysis believed that one was inevitable, particularly after SARS, MERS, and Ebola, is BAD PLANNING that equity holders should bear the responsibility for. They took the risk, reaped some profits, now it's time to take the losses. Anything else is simply socialism for the rich, and something worse than laissez-faire capitalism for everyone else. [1] https://www.usatoday.com/story/sports/tennis/2020/04/09/wimbledon-pandemic-insurance-policy-payout-141-million/5123987002/ https://www.usatoday.com/story/sports/tennis/2020/04/09/wimb...