- Joined
- Jul 3, 2021
This is retarded. Insurance would never work this way. Insurance companies purchase insurance themselves via companies like Lloyd’s. Nobody is sitting on a pile of money waiting for a 100 year catastrophic event.Most surprising part about the insurance stuff is that their isn't a regulation that states if they are covering x amount then they must have y amount on hand with annual stress tests done.
For all the regulations about how people must have insurance their sure as fuck doesn't seem to be any regulations on the insurance companies providing a service.