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Doesn't all insurance work like this though? Insurance companies can pay for individual losses, but are bankrupt if everybody loses at once.
by amanaplanacanal 5y ago
Doesn't all insurance work like this though? Insurance companies can pay for individual losses, but are bankrupt if everybody loses at once.
- mullingitover 5y agoYes, but these weren't insurance companies, they were retail banks. That was the problem.