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3min chapter
Berkshire Hathaway Part I
Acquired
How Does Giko Work?
Gico is an audio insurance company. The premiums that the customers pay giko for their audio insurance, that cash comes in the door on day one,. And gico's expenses, they have to pay out claims on insurance claims later. So you pay the policy premiums up front. But then when they're accidents and stuff, and then they go through court, and blais baublis, it can take years before you have to actually pay out any money if you pay out any money at all, right? Yes. Supposing you have a good government employee that never wrecks their car, you might just make money. You might just make a lot ofon and never hve
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