3 ms·
> Because Re-insurance companies look at the likelihood of pandemics and simply refuse. I believe it's not likelihood alone. It's a combination of very low lik
by dx034 7y ago
> Because Re-insurance companies look at the likelihood of pandemics and simply refuse.
I believe it's not likelihood alone. It's a combination of very low likelihood, very high cost event that doesn't make it worth it for most.
In the end it likely wasn't the re-insurers decision. They cover pretty much everything for the right price, also pandemics. But no end-customer would've paid the extra price for pandemic coverage so no insurers used it. Unless it's outright illegal I've yet to hear of an event that no insurance company would cover.
- Geeflow 7y agoA nice example of "ensurers will ensure everything" is the Ansari X Prize (space competition). They ensured against someone actually winning the competition: > The funding for the US $10,000,000 prize was unconventional in being "backed by an insurance policy to guarantee that the $10 million is in place on the day that the prize is won." https://en.m.wikipedia.org/wiki/Ansari_X_Prize#Funding https://en.m.wikipedia.org/wiki/Ansari_X_Prize#Funding
- deleted 7y ago[deleted]