Funny you should mention LOL. They are now one of the insurance companies of last resort here in Florida.........
Yeah, they're not really an insurance company, but probably 2000+ companies with billions of dollars of risk.
They can insure your 10-million-dollar mansion on the San Andreas fault ---- for a mere $500K a year or somesuch --- because they similarly insure 10-million-dollar mansions on the flood plane of the Mississippi --- for the same price --- on the theory that not everything falls apart all over the world at the same time.
My rigs (oil rigs) are casualty-insured by probably 10 different companies at the same time under the same idea.
Big risks. Big costs.