> Are they unaware of how big an expense this would be for all of their insurers? Yes but they think the likelihood of such events happening is nil. If it did

> Are they unaware of how big an expense this would be for all of their insurers? Yes but they think the likelihood of such events happening is nil. If it did occur and they had to pay-out for all the electronics of all their customers, then they'd simply refuse to pay. If they got taken to court and they were forced to pay, then they'd declare bankrupty and it would be a government problem then. Insurance is great for limited disasters/issues. For wide-ranging systematic issues, insurance is a scam because they simply cannot make all their customers whole. Just like banks are great as long as everyone doesn't cash out. If everyone decides to cash out, then banks start to look scammy.