I re-used the 'upper bound' for the insurance - there is no upper bound in liability for the insured. Tort law does not specify a limit in liability - though it

I re-used the 'upper bound' for the insurance - there is no upper bound in liability for the insured. Tort law does not specify a limit in liability - though it can be a bit complicated as there can be other laws around this. A 'fully insured' person is taken to mean sufficiently insured to meet a law, or sufficiently insured to meet a reasonable level of liability. While highly unlikely it's possible that someone with $1,000,000 in insurance can incur $10,000,000 in liability. To your final point, life is unfair yet it continues. I understand that you wish the world would always provide proper compensation for victims, my position is that even if that was theoretically possible, which I don't think it is, it may not even be optimal.