re: Germanwings Crash: One Pilot locked out of cockpit at time of crash

quote:

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I assume they're insured but not for 149 deaths from an unfit pilot. (although it sounds like the airline didn't know he was unfit).

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Big arse organizations like airlines likely self-insure for liability and insure the planes themselves with some Lloyd's syndicate or other. Your corner stores and independent oil companies and the like buy insurance policies for property and liability. A national or international huge company, instead of buying a policy, will up enough aside with a subsidiary they own, adhere to insurance law, and have that sub-company act as their OWN insurance company.