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FBaggins

(28,703 posts)

18. That isn't how reinsurance works

Reply to James48 (Reply #12)

Sat Mar 7, 2026, 12:55 PM

10 hrs ago

It would cost $20B if Iran sank dozens of tankers and the US had to pay the primary insurance companies for the loss... but it doesn't cost anywhere close to that to provide the coverage itself.

In fact, depending on the specifics, it could be a profitable enterprise.

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Highlight:

Trump admin announces $20 billion reinsurance program for oil tankers during Iran war [View all] BumRushDaShow Yesterday OP

Paid for by US Taxpayers? Wouldn't it have been eaiser to not help Israel bomb Iran? FSogol Yesterday #1

Any company would be foolish to take that risk based on the word of this admin. RockRaven Yesterday #2

i just want health COVERAGE i can afford. uncle ray Yesterday #3

So many billions. So little healthcare. -eom vanessa_ca Yesterday #4

DUzy!!!!! mahina 18 hrs ago #17

Another case of him D. Spaulding Yesterday #5

Let me guess. We are paying for it. AllyCat Yesterday #6

TSF is very generous with taxpayer money. alwaysinasnit Yesterday #7

Trump assumes they care about the lives of their employees as little as he does muriel_volestrangler Yesterday #8

Probably Not Going To Work modrepub Yesterday #9

Insuring material losses does not equate to making ship's captains and their crews suicidal. /nt artemisia1 Yesterday #10

There is an urgency to get fertilizer through? Bayard Yesterday #11

$20 billion more added to the cost of war. James48 Yesterday #12

That isn't how reinsurance works FBaggins 10 hrs ago #18

Is the insurance going to protect the ships from Iranian drones and missiles? SamuelAdams Yesterday #13

It's going to take more than insurance... Hugin Yesterday #14

Ain't going to happen kimbutgar Yesterday #15

Remember the good old days... WinstonSmith4740 18 hrs ago #16

Check to see how much oil stocks the Grifter in Chief, his clowns and leading repugs bought just before the announcement Wonder Why 9 hrs ago #19