One Interesting Thing About Insurance

Robert wonders why deposits for bank account holders in excess of $250,000 are insured despite exceeding the explicit limits of coverage and despite no premiums having been paid on those excess deposits. Are those depositors more important to the economy than the rest of us? Maybe “taxpayers” won’t pay for the Silicon Valley Bank bailout, but everyone who uses the banking system will. Is there a difference?

Robert remembers the Station Nightclub fire twenty years after the little bar in Rhode Island burned to the ground.

Michigan State University was locked down on the evening of February 13, 2023 while campus police searched for a shooter suspected of killing three people and injuring several others. Robert is an MSU alumnus and he talks through some of his feelings over the past week. He also reveals that he is an agent that sells active shooter insurance.

The video released to the public showing the police beating of Tyre Nichols has spurred renewed calls for the end of immunity for police officers from personal liability. If laws were changed, how would that impact applications for police officer jobs, officer behavior, and how likely is the insurance industry to respond with a product solution?

Robert is joined by Kelly Ann Barker, human resources professional, and he shares his experience with a blind massage therapist. The episode runs a little longer than usual when Robert flashes back to a high school consumer economics class taught by his old gymnastics coach.

The physical exams administered to Carlos Correa by the SF Giants and NY Mets have cost him $150 million. He now has a six-year deal offered by the Minnesota Twins PENDING A PHYSICAL.  Insurance, or more accurately, the lack of insurance available is driving the market down for this very talented shortstop.

Nylle joins the podcast to talk about why everyone seems to hate talking to salespeople. Pursuing a sales prospect via text message goes terribly wrong for Robert.

Baseball’s free agents are signing guaranteed contracts for hundreds of millions of dollars and the teams that sign them are insuring these deals much like any other big business hedges their positions. Did the Giants pull their offer to Carlos Correa because their insurer wouldn’t cover the contract over concerns about a previous leg injury? If so, the Mets may pull their offer and he’ll lose out on two $300+ million deals in a span of a week. Insurance underwriters pull a lot of strings behind the scenes in baseball and Robert is fascinated!

Robert travels to Florida for the birth of his first grandchild and explains why it can be a good thing when a baby arrives early.

Robert talks with his son, Damon, about how concert tickets were sold in the 90s and contrasts that with the Metallica tour that recently went on sale.