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It's hard to imagine private insurance companies being able to actually pay out their obligations in the event of a massive earthquake in any metropolitan Ameri
by biesnecker 13y ago
It's hard to imagine private insurance companies being able to actually pay out their obligations in the event of a massive earthquake in any metropolitan American city. Federal (and to a smaller degree, state) governments will almost certainly put up most of the money for recovery and rebuilding.
- endersshadow 13y agoIt's time for you to learn about reinsurance: https://en.wikipedia.org/wiki/Reinsurance https://en.wikipedia.org/wiki/Reinsurance
- elpool2 13y agoI wonder how much damage it would take to bankrupt even the reinsurers. Would a hurricane Katrina sized disaster hitting every city from SF to Vancouver do it?