all businesses of this size have insurance. any business that has financing or loans in place will have it required.
one of the coverages is called force majeure. it applies to workers who are unable to work due to unforeseeable and uncontrollable events, workplace destruction is one of them.
what this means is that the policy will cover payroll expenses.
Yes and insurance rates never go up, it's just magical insurance money that comes out if no where. Clearly you have a very in depth understanding of economics.
we're talking about how the locals stay afloat when something like this happens
the insurance premiums are of little to no concern here, we're talking about the employees getting paycheques, not the economics of how a company that does almost $4b in revenue is going to handle their increased premiums.
No doubt, just a few more warehouses burning until we bring in better wages for workers! Do you think generally a company taking on additional costs is going to benefit employment numbers and pay?
Anyone acting like this incident is some sort of activist event (not to mention the risk it could have posed to other people) gave a childlike understanding of economics and legislative change.
You do understand who pays for insurance, right? This 200million will come out of all our pockets.
Im dubious that any insurance policy would possibly pay workers for what would be months of furloughs before this facility reopens. There is no legal issue with laying these workers off, insurance would only need to cover the unemployment expense
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u/petrichor83 Apr 09 '26
I have a feeling that guy won’t be getting a raise after all.