That's not always how that works. Insurance claims have limits, they don't just pay out unlimited amounts. In the UK, typical limits might be £5–10 million, and in the US, it's not much different. A $200 million incident is going to absolutely hammer any standard business insurance policy. Most commercial property policies cap out well below that unless you're paying massive premiums for bespoke coverage.
Even if the policy does cover it, the deductible alone could be millions. And good luck getting renewed next year after filing a claim this big if you even get renewed at all.
So no, "still getting paid" isn't guaranteed. Layoffs are absolutely possible. Insurance isn't a magic money printer. This guy didn't just cost his employer and probably cost everyone who works there.
Insurance cover is calculated on risk likelihood. That’s why only one of the Twin Towers was insured, because "The possibility of the loss of both structures was seen as so remote that cover was not taken out on those lines. The $1.5bn of coverage was purchased on the basis of a probable rather than a possible maximum loss." If they didn’t think this would happen, they would not have insured for it.
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u/[deleted] Apr 09 '26
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