Insurance loss for US bridge collapse could hit $3bn
Insurance loss for US bridge collapse could hit $3bn
www.bbc.co.uk
Insurance loss for US bridge collapse could hit $3bn
It could cost insurance companies $1.2bn for the bridge damages and millions more for the six deaths.
Archived version: https://archive.ph/cpwMp
Oh yeah because insurance companies paying what they're contractually obliged to is "loss"
Well yes, unplanned expenses in excess of income are "loss", regardless of if you're contractually obligated to do so.
I imagine the insurance agency didn't plan to pay for an entire bridge this fiscal year, so they're going to have one bigass loss.
Insurance has overhead insurance for these things.
And if they don't they should fail.
No, but they planned for one bridge every 50 years. So this is that year.
Insurance thought they found an infinite money glitch to get big sums of money forever unless the bridge collapses, but it relied on the bridge not collapsing. Whoops.
What a bizarre comment. What are they supposed to call it, a "gain"?
Cost/expense.