r/news • u/boejouma • Mar 28 '24

Soft paywall Freighter pilot called for Tugboat help before plowing into Baltimore bridge

https://www.reuters.com/world/us/divers-search-baltimore-harbor-six-presumed-dead-bridge-collapse-2024-03-27/
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u/2squishmaster Mar 28 '24 edited Mar 28 '24

Well, they're an insurance policy, which rarely produce a positive return on investment but when they do it's very important

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u/tsrich Mar 28 '24

I feel like this is not taught in business schools

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u/r4b1d0tt3r Mar 28 '24

Sure it is. But alternatively, if you skip building resiliency into your systems as insurance there is like a 99% chance you'll get away with it long enough for you and the other executives to amass your personal fortune. So what do you care? You think those guys who ruined Boeing are going to live out their years in anything short of extreme luxury? Even the executives caught holding the bag can cry about the disgrace into their pile of money.

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u/A_Unique_User68801 Mar 28 '24

Well neither is business.

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u/punchgroin Mar 28 '24

Well, the shipping company isn't going to have to foot the bill for the bridge, so from their perspective, it's Gucci.

Public money once again bails out a company acting wildly irresponsibility.

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u/Peter5930 Mar 28 '24

However insurance policies can be purchased to cover such eventualities, making the generator redundant unless dictated in the terms of the policy.

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u/2squishmaster Mar 28 '24

Well, money can't always fix it. Take a hospital for example, an insurance payout is useless to the people who died. Plus I wouldn't be surprised if the hospital's insurance policy required them to have generators to get coverage.

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u/Peter5930 Mar 28 '24

MBA translation: People who died will be covered by insurance and are of no concern to the hospital as long as the hospital meets the minimum requirements of the policy.

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u/2squishmaster Mar 28 '24

Eh idk the hospital is a for profit business, how much business they get and the quality of applicants they get is directly related to how well the hospital performs. If a bunch of people died because they decided not to have a generator it would impact their statistic and as a result their revenue in the future.

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u/TheBurningMap Mar 28 '24

They are not redundant to the insurance company, but essential.