BillinghamJ
Joined 14 years ago
Joined 14 years ago
Beyond that, agree it seems like it can just be anything in virtually any title
All this blog post can do is make people nervous and lead to customers moving elsewhere. Revenue will drop, and further compound their desire to not invest in the platform. What's the benefit/upside in publishing such an article?
All unlimited liability insurance companies (e.g. motor insurers in the UK) have reinsurance to take the hit on claims over a certain level - e.g. 100k, 1m etc.
For extreme black swan risks, this is how you prevent the insurance company just going bankrupt.
Reinsurers themselves then also have their own reinsurance, and so on. The interesting thing is that you then have to keep track of the chain of reinsurers to make sure they don't turn out to be insuring themselves in a big loop. A "retrocession spiral" could take out many of the companies involved at the same time, e.g. the LMX spiral.
It is common for founding engineers to start with a preexisting way of working that they import from their previous more-scaled company, and that approach is refined and compounded over time
It does mean starting with more than is necessary at the start, but that doesn't mean it has to be particularly complex. It means you start with heaps of already-solved problems that you simply never have to deal with, allowing focus on the product goals and deep technical investments that need to be specific to the new company
The reason is because the insurance companies want you to care about the car as an asset, on the basis that statistically they are driven more carefully (and therefore cause less third party property damage, bodily injury, etc.)