Comment on Warren Buffett offers $1 billion for perfect March Madness bracket parentComments−jessedhillon12yBuffet 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?−gibybo12yBuffet (or rather, Berkshire Hathaway) IS the insurance. Quicken is paying the premium to one of Buffet's insurance companies.
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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?
Buffet (or rather, Berkshire Hathaway) IS the insurance. Quicken is paying the premium to one of Buffet's insurance companies.