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Nope. Insurance companies explicitly exclude these type of events. That should tell you something -- insurance companies don't like open-ended, catastrophic ris
by Duff 15y ago
Nope. Insurance companies explicitly exclude these type of events. That should tell you something -- insurance companies don't like open-ended, catastrophic risk.
- jrockway 15y agoFortunately, the US government has $12 billion to help people out in the event of a catastrophe: http://www.nrc.gov/reading-rm/doc-collections/fact-sheets/funds-fs.html http://www.nrc.gov/reading-rm/doc-collections/fact-sheets/fu...
- Someone 15y agoIn some way, that is honest, too. Very low-probability, but highly correlated risks (if it happens to you, it likely will happen to your neighbor, too) simply aren't a good fit for a capitalist system that does not look ahead more than say ten years. If an insurance company were to insure against such risks it would happily collect money from its customers. After a couple of years, its shareholders would force it to make dividend payouts. Then if the 'un'thinkable were to happen, it would go broke, and the customers would not get the money they paid for.