Interesting point. I read the original point as contesting the idea that insurers are going to have to eat a loss. In the end I think both perspectives are ins

Interesting point. I read the original point as contesting the idea that insurers are going to have to eat a loss. In the end I think both perspectives are insightful: insurers aren’t in the red for 2020, but they’re also profiting from COVID less than they “normally would”