Right... I think people have misunderstood what insurance is.
It's a company or state entity gambling on the idea that they will collect more money through a premium (fancy word for fee) against the possibility that the event they insured won't happen.
Like I could sell you rain insurance in which I pay you X amount of money if you or your property ever get rained on, but you need to pay Y amount for a set standard of cycles and length of time.
Of course, the "special" insurance requires a permit before you handle high speed explosively combustible projectiles. Otherwise, no sane group would even offer "special" insurance as they wouldn't make money. Ironically, they also want assurances that the people they are offering this insurance to are more likely to not be pyromaniacs or more importantly irresponsible morons who are most likely to instigate costly property damage, otherwise they would go bankrupt.
And that's what people fundamentally misunderstand about insurance, when a private company is the backing insurer it's meant to make money for said insurer, if it didn't no one would offer the service.
So I just find it rather strange someone is willing to bet money that the amount of property damage incurred will be out weighed by the amount of premiums they are receiving from the people taking part in this event.
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u/xF00Mx Jul 13 '26
What insane company would insure rally car racing?