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0 pointsIgorPartola12y ago0 comments

What's the point? If Buffet wins, no need to pay insurance premiums. If he loses, his insurance would cover 0.2% of his loss.

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4 comments · 2 top-level

ghshephard12y ago· 1 in thread

The idea is you pay $2m, and if you lose, the insurance covers the $1B (or $500m if in one lump sum)

Thank you. I was really misunderstanding that. Late night comments...

jessedhillon12y ago· 1 in thread

Buffet pays the $2M premium, and the insurance company will pay out the $1B in case of a winning outcome. Otherwise how is it even insurance?

gibybo12y ago

Buffet (or rather, Berkshire Hathaway) IS the insurance. Quicken is paying the premium to one of Buffet's insurance companies.

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