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FBaggins

(28,704 posts)

18. That isn't how reinsurance works

Reply to James48 (Reply #12)

Sat Mar 7, 2026, 12:55 PM

Mar 7

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 Mar 6 OP

Paid for by US Taxpayers? Wouldn't it have been eaiser to not help Israel bomb Iran? FSogol Mar 6 #1

Any company would be foolish to take that risk based on the word of this admin. RockRaven Mar 6 #2

i just want health COVERAGE i can afford. uncle ray Mar 6 #3

So many billions. So little healthcare. -eom vanessa_ca Mar 6 #4

DUzy!!!!! mahina Mar 7 #17

Another case of him D. Spaulding Mar 6 #5

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

TSF is very generous with taxpayer money. alwaysinasnit Mar 6 #7

Trump assumes they care about the lives of their employees as little as he does muriel_volestrangler Mar 6 #8

Probably Not Going To Work modrepub Mar 6 #9

Insuring material losses does not equate to making ship's captains and their crews suicidal. /nt artemisia1 Mar 6 #10

There is an urgency to get fertilizer through? Bayard Mar 6 #11

$20 billion more added to the cost of war. James48 Mar 6 #12

That isn't how reinsurance works FBaggins Mar 7 #18

Is the insurance going to protect the ships from Iranian drones and missiles? SamuelAdams Mar 6 #13

It's going to take more than insurance... Hugin Mar 6 #14

Ain't going to happen kimbutgar Mar 6 #15

Remember the good old days... WinstonSmith4740 Mar 7 #16

Check to see how much oil stocks the Grifter in Chief, his clowns and leading repugs bought just before the announcement Wonder Why Mar 7 #19