[HN Gopher] Notice of Stolen EVGA GeForce RTX 30-Series Graphics...
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Notice of Stolen EVGA GeForce RTX 30-Series Graphics Cards
Author : paulproteus
Score : 88 points
Date : 2021-11-03 21:44 UTC (1 hours ago)
(HTM) web link (forums.evga.com)
(TXT) w3m dump (forums.evga.com)
| rdtwo wrote:
| Interesting, smart move would be to just mine with them or sell
| them used. I'm sure they will just end up on Craigslist though
| toyg wrote:
| _> I'm sure they will just end up on Craigslist though_
|
| Why so sure? This doesn't look like a crime of opportunity -
| one has to know the truck will contain graphics cards, and that
| such cards are valuable in today's market. It doesn't say how
| many cards were stolen, "a shipment" could be the whole truck -
| and robbing a truck is no joke. If there is some organization
| behind the heist, I would expect them to be sent directly to a
| lined-up buyer that has a use for them - possibly an
| unscrupolous miner, possibly not in the country. At what price-
| point will it cost less to hire a bunch of goons than to pay
| RRP...?
| vadfa wrote:
| You assume the thieves knew what was in the truck. They
| could've expected anything, from plasma TVs to chicken.
| spoonjim wrote:
| If thieves selected trucks at random they would more likely
| get toilet paper than graphics cards. This could be just
| circumstance but more likely at least some targeting.
| mike_d wrote:
| Truck thefts are tipped off by workers in the logistics
| chain that have access to the bill of lading.
|
| It isn't particularly sophisticated or uncommon. They
| look at the shipping paperwork and see "Sony", "EVGA",
| "Nike", etc. and text the container number to their
| friends.
|
| Normally insurance deals with this and the public never
| hears about it. This is extremely odd to issue a public
| announcement.
| toyg wrote:
| _> It isn 't particularly sophisticated or uncommon. _
|
| No, but it requires an established closeness to such
| networks, which is typical of organised or semi-organised
| crime rather than random bozos.
| wly_cdgr wrote:
| Or even more devious: steal enough of them that you can scalp
| ones you bought legitimately for even more
| mrdrozdov wrote:
| Ocean's Eleven bitcoin edition...
| sebiw wrote:
| I call this a dick move on EVGA's side, mainly harming consumers.
| I'm pretty certain they have insurance for incidents of this kind
| (theft), limiting the financial impact for them.
| jchw wrote:
| I disagree. Theft like this doesn't benefit anyone other than
| thieves. They should be doing everything in their power to
| recover the cards and ensure the thieves are caught.
|
| I don't want to buy stolen goods from a thief.
| greggman3 wrote:
| It doesn't matter if they have insurance. Someone has to pay
| for it which ends up being a tax on everyone.
| [deleted]
| ericd wrote:
| They're legally not the consumers' cards, they still belong to
| EVGA.
| sebiw wrote:
| To be clear: I do not support theft and law enforcement must
| follow up on the offenders, recover what's left and seize the
| assets. But I just think a lot of people won't receive the
| message about these stolen cards and will be left with a rather
| shitty situation.
| theshadowknows wrote:
| Honestly I'm surprised that they cant just be remotely disabled.
| I'm not advocating for this feature by the way. I'm just
| surprised that it's not a thing.
| Strom wrote:
| How would it be a thing? You don't even need a network card,
| much less a network connection, to use a GPU. I guess they
| could manufacture these in a way that requires online
| activation of the firmware, but that would be a big step in the
| wrong direction of consumer rights.
| amatecha wrote:
| The NVIDIA driver could refuse to function correctly on a GPU
| with a known-stolen serial number.
| Gigachad wrote:
| It could be done if nvidia cooperated. It's basically
| impossible to use a nvidia gpu without the driver software
| which _is_ networked. Nvidia already added malware to their
| drivers before to stop mining so blocking some stolen cards
| would not be out of the question.
| sebow wrote:
| Shhhh.... (By the way that's also the first thought that popped
| to me, i reckon some hardware do have this 'feature',
| especially in the enterprise space)
| kordlessagain wrote:
| Disable mining on them!
|
| Note: I'm just kidding.
| squarefoot wrote:
| If they disabled mining on _all_ GPUs and hardware not
| intended for that purpose, video card prices would return to
| normal in a month. Unfortunately it 's too late; we just
| entered the era in which every appliance consumes less power,
| yet there is an unprecedented demand for energy, and it grows
| steadily. What will happen when everyone on the planet will
| want their own mining machine on 24/7?
| curtain wrote:
| This is dumb and blind cynicism.
| Gigachad wrote:
| Is it dumb? Many manufacturers already do this. Samsung had a
| case recently where they bricked all of the stolen smart TVs.
| Apple would do this as well. Basically any technology product
| company has or is considering having the ability to brick
| stolen devices.
|
| And I'm not against this either. The law can provide a strong
| set of rights for actual owners, but if your product is
| stolen, you have no rights over it.
| curtain wrote:
| A GPU is a component, not a complete system.
|
| For laptops and smartphones being stolen a common risk, and
| that kind of functionality grants the end-user some
| protection, and perhaps a chance to recover the good.
|
| For TVs and motherboards, GPUs, printers, etc it's
| basically superfluous DRM that only serves the
| manufacturer.
|
| Overall Smart TVs have been the polar opposite of user-
| respecting technology.
| emerged wrote:
| I literally did this with my Kindle when it was stolen.
| cs702 wrote:
| The thieves who stole the trailer truck stand to make quite a bit
| of money.
|
| The internal storage space of a large trailer truck is ~50ft long
| x ~8ft wide x ~9ft high, give or take.
|
| The box containing each RTX 30xx card is at most ~1ft x ~0.5ft x
| ~0.5ft, give or take.
|
| Assuming the stolen trailer truck could be packed end-to-end and
| floor-to-ceiling with cards, there could have been up to
| (50/1.0)x(8/0.5)x(9/0.5) = 14,400 cards inside the trailer.
| That's the upper limit on how many cards were stolen.
|
| EVGA RTX 30xx cards retail between $1000 and $3000 _each_ ,
| depending on the model.
|
| Even if I'm off by a factor of 10x on the number of cards, we're
| talking about _a fortune_.
| gruez wrote:
| Where does it say that they stole a trailer's worth of GPUs?
| Given supply shortages, it's possible that there's only a
| pallet or two of cards, not a trailer-full.
| arthurcolle wrote:
| Seems strange that theft invalidates a warranty from first
| principles, its not like they took it apart or something
| noah_buddy wrote:
| What first principles are you using? A warranty only makes
| sense when money was paid for the product, no? How else could
| you afford to provide support otherwise?
| shadowgovt wrote:
| Additionally, a warranty only makes sense when the
| manufacturer can provide some quality guarantee on the
| product.
|
| That's much harder to provide with stolen goods... No way to
| know the _thieves_ didn 't take apart / damage the cards.
| dragonwriter wrote:
| > Seems strange that theft invalidates a warranty from first
| principles
|
| The warranty is transferred from the manufacturer to the
| consumer through the chain of commerce. Theft breaks the chain.
| gpm wrote:
| The strange part is that they're discussing a warranty at all.
| Legally these are still their cards, if they find out you have
| one they can demand it back without offering any compensation
| whatsoever, not just not fix it for you for free.
| mike_d wrote:
| They can demand all they want. They would need the police to
| charge you with felony receiving of stolen property, which
| means the card needs to be valued at over $950 and they have
| to be able to prove you knew it was stolen.
|
| I've dealt with this plenty of times with stolen employee
| laptops that get resold on craigslist. If the buyer purchased
| it in good faith, and the asset is replaceable, you aren't
| getting it back.
| mensetmanusman wrote:
| A crypto future where armed guards are required to deliver
| gpus...
| cillian64 wrote:
| This seems like a nasty move from EVGA to shift the downside onto
| whoever ends up unknowingly buying these cards on eBay. It's
| weird, they normally seem like a company with a decent customer
| focus, and it's not like this move is going to make any
| difference to their loss from the shipment, it just screws
| customers.
| angulardragon03 wrote:
| Honestly I disagree with this. They are refusing to honour
| warranty claims on the stolen cards, which given the situation
| is totally fair.
|
| The alternative for them is exacerbating the financial losses
| caused by the theft by offering free repairs/replacements on a
| product that they already haven't generated any revenue on.
| paxys wrote:
| This entire post seems pretty unnecessary. Not honoring
| warranty for products bought from unauthorized retailers is
| pretty standard in the industry. People buying graphics cards
| from the back of someone's truck or an eBay scalper are well
| aware of that. And are they implying they will take legal
| action if you buy one of these cards?
| wmf wrote:
| OTOH to do otherwise would send a message that it's open season
| to steal their inventory.
| holografix wrote:
| They are tackling the demand side of what could become a very
| lucrative business for thieves. If people are scared away from
| buying "dodgy back of the van" GPUs then thieves have no
| incentive to steal them.
| fhood wrote:
| Pretty much every company would do something like this. No
| reason not to discourage people from buying.
| camhart wrote:
| I agree... EVGA needs to make a way possible for customers to
| identify which cards are stolen or not at a bare minimum.
| teawrecks wrote:
| "you can also check the serial number at the EVGA Warranty
| Check page to see if it is affected."
| amatecha wrote:
| Right, that's kinda difficult to do when you don't yet have
| the GPU in your possession. Why don't they post a list of
| serials of the stolen cards? I assume every shipment
| contains a list of the serial#s of the devices in the
| respective shipment?
| camhart wrote:
| How do I do this before I click "buy" off
| amazon/newegg/ebay/etc?
| mschuster91 wrote:
| If I were EVGA, I'd contact eBay to flag _all_ sales of
| the stolen GPU models, and that providing the serial
| number is required for the listing to be accepted.
| teawrecks wrote:
| I think their goal is to reduce demand for stolen cards,
| thereby reducing incentive to steal them.
| unclekev wrote:
| Site is down
|
| Anyone got a mirror?
|
| > Access Denied - You don't have permission to access
| "http://forums.evga.com/Notice-of-Stolen-EVGA-GeForce-RTX-30S..."
| on this server. -Reference #18.9e58d617.1635979315.80419ad
| paxys wrote:
| How many people even register their graphics card (or really
| anything else) online on the manufacturer's website? And
| considering it is impossible for people to buy cards from legit
| sources, what exactly do you expect them to do?
| acomjean wrote:
| Yeah. Its pretty meaningless.
|
| If you are buying a new sealed video card, never used sold on
| craigslist/ebay, I'm guessing your not very suspicious and
| probably not looking for a warranty.
| 14 wrote:
| Now days PS5's and graphics cards are bought up quickly and
| sold by scalpers. So I am guessing some may not be suspicious
| at all but assume it is just a scalper and may even expect to
| pay a mark up on said items.
| kevingadd wrote:
| I register all my EVGA purchases specifically because they have
| very good warranty + customer service, and they have a great
| trade-in program for registered hardware.
| blackearl wrote:
| EVGA has reportedly great warranty support so it's worth it,
| especially considering it's a purchase that's usually $500+.
| mooman219 wrote:
| One data point but I have had issue with EVGA support, and
| their cards for years (I owned two before I swore to never
| buy another one). They had heatsink issues at one point and
| it was incredibly hard to get it fixed without me paying
| shipping and I would have been out a GPU for 4-8 weeks. I
| just fixed it myself and voided the warrenty.
| [deleted]
| zeroDivisible wrote:
| This is anecdotal but EVGA replaced my 1-month out of warranty
| 970 with 1070, after the card gave up to work about 2 years
| ago. And I registered it after the failure, although I was able
| to establish that I bought the card legally and was the only
| owner.
|
| All my contact with their customer support was stellar.
| wang_li wrote:
| Some time ago I bought an EVGA 560 Ti and they threw in a 10
| year extended warranty. A couple years in it failed and they
| replaced it with a 660 Ti. About a year later that failed and
| they replaced it with a 960 Ti. I appreciate their warranty
| policies.
| kitsunesoba wrote:
| In addition to the warranty mentioned by others, registering an
| EVGA product of a certain value or higher gets you into their
| Elite program, which gives early access to queues for new
| products. This is what allowed me to upgrade to a 3080 Ti for
| MSRP in the middle of a shortage.
|
| So it may not be immediately useful but can pay off down the
| road.
| [deleted]
| camhart wrote:
| I do, because I want manufacturer warranties. I've lost out in
| the past by not registering and the warranty expires. I'm
| certainly cautious and frugal, but not too abnormally so (I
| think at least). I'd guess there are a handful of others like
| me.
| paxys wrote:
| You have the warranty regardless. Creating accounts and
| registering your product after purchase cannot legally be a
| requirement.
| camhart wrote:
| My EVGA card from a decade ago had a lifetime warranty _if_
| you registered it with them. I didn 't, so when it stopped
| working 3 years later I had to buy a replacement.
|
| Registering for an extended warranty is a requirement that
| many companies enforce.
|
| Update: Why is this being downvoted? Literally from EVGA's
| website: "Limited Lifetime Warranties are available to the
| original owner on applicable parts if registered by the
| original owner within 30 days of the date of purchase." [1]
| [1] https://www.evga.com/warranty/2011/graphics-cards/
| tharkun__ wrote:
| What's the "lifetime" of a graphics card?
|
| As in, lifetime doesn't mean your lifetime. Of the time
| you own the card. It means whatever expected lifetime the
| item has as per the manufacturer. The manufacturer may
| define the "regular lifetime" of their item to be 3 years
| for example and then it would not have helped you at all.
|
| I've never registered for any warranties in my life.
|
| I'm not sure if this is a thing where you are. But where
| I am for example, there are warranties guaranteed by law
| that require manufacturers to warranty their items for a
| "reasonable" amount of time (regardless of what their
| actual terms say). What is reasonable is up to
| interpretation and different for different items. They do
| give a few examples for common items like a washing
| machine but otherwise it's up to consumers and companies
| to figure this out together and if they can't you can
| make an official complaint with the government. Helped me
| w/ NVIDIA who wouldn't replace a broken tablet shortly
| after their official warranty ran out.
|
| EDIT: No idea on the downvotes, when I started replying
| there were no downvotes yet, when I submitted there was.
| anonymousisme wrote:
| Such companies may actually be in violation federal
| regulations. US Title 16 CFR SS 700.7 covers this:
| https://www.law.cornell.edu/cfr/text/16/700.7
|
| So the manufacturer must honor the promised warranty, but
| they certainly have the option to offer an extended
| warranty at no charge provided that the consumer
| registers with them.
| dragonwriter wrote:
| You have the _legally required_ warranty regardless, but to
| the extent the warranty isn 't required by law, you have
| whatever you've jumped through the manufacturer's hoops
| for.
| nightski wrote:
| EVGA has historically had the step up program. It used to be 2
| years but look like it is only 90 days currently.
| perihelions wrote:
| Convenient for the criminals that there's a safe and easy way to
| launder expensive hardware into currency, without even needing to
| move it.
|
| What a lovely system we've created, and what lovely incentives.
| knownjorbist wrote:
| These GPUs will be resold without a doubt. Moving pallets of
| GPUs and setting up a mining operation somewhere will be
| quickly noticed. Much better to sell these at markup on
| Craigslist.
| wmf wrote:
| If you're talking about mining, setting up a mining farm with
| hundreds of GPUs isn't easy or cheap at all.
| glanzwulf wrote:
| I'm sure there are other shipments they can target
| justapassenger wrote:
| I think you overestimate sophistication of "let's steal
| stuff from a truck" businesses.
| Uberzi wrote:
| Did you miss the part about the GPU being stolen ?
| tshaddox wrote:
| The comment said it's not easy or cheap to set up a mining
| farm.
| justapassenger wrote:
| You need to plug those GPUs into computers. You need to
| plug those computers somewhere as well.
|
| It's not going to the moon hard, but waaaaaaay harder than
| reselling it on Craigslist. And requires significant
| capital investment.
| mountainb wrote:
| It'd be more efficient to just fence the cards. There are
| so many communities of flippers / eager buyers out there
| that it would take minutes to move an entire truckload of
| 30 series GPUs to buyers of all types.
| ChuckNorris89 wrote:
| Just like with setting up a weed farm. The cops need to
| follow spikes in power consumption that are out of the
| ordinary and they'll find you. However, growing weed may
| be illegal in most places, mining is not yet.
| wmf wrote:
| Setting up a mining farm with hundreds of free stolen GPUs
| isn't easy or cheap at all. You still have to find power
| and cooling and buy a bunch of motherboards, power
| supplies, networking, shelves, etc.
|
| (Likewise I suspect the weed is the cheapest part of a grow
| operation.)
| hh3k0 wrote:
| > Setting up a mining farm with hundreds of free stolen
| GPUs isn't easy or cheap at all.
|
| Still significantly cheaper than setting up a mining farm
| with hundreds of legally obtained GPUs.
| vermilingua wrote:
| OpEx is always greater than CapEx. You don't see mining
| farms moving to countries where GPUs are cheap, they go
| where electricity is cheap.
| colinmhayes wrote:
| Because GPUs are small and easy to transport?
| shadowgovt wrote:
| How expensive would it be to replace the cards in an existing
| farm with these?
| m-p-3 wrote:
| You can likely recoup the initial cost somewhat quickly with
| that kind of hardware though.
| dvt wrote:
| > Convenient for the criminals that there's a safe and easy way
| to launder expensive hardware into currency, without even
| needing to move it.
|
| I'm no crypto bro, but what an asinine comment. Heck, you can
| probably launder _shoes_ much easier than RTX 3080s.
|
| Side-note: why is HN so anti-crypto? I mean, I personally think
| it's a bubble and I'm not super invested in crypto, but I do
| know (not-particularly-bright) people that have made 7-figures
| already this year by flipping NFTs. I feel that if most HNers
| would just build a crypto business (DeFi, arbitrage, NFTs,
| tokenomics, etc.), they'd basically be overnight millionaires.
| knownjorbist wrote:
| It's wild. HN of a decade ago was very much in favor of
| anything cypherpunk or otherwise wrestling control away of
| the Internet away from authorities and corporations. I guess
| those people "grew up"?
| ashtonkem wrote:
| Or a decade of seeing crypto fail to deliver on any single
| promise soured people on the idea? Just a thought.
| BoorishBears wrote:
| How can you launder shoes like that?
|
| I don't agree with blaming crypto, but it's true that these
| are uniquely perfect things to steal.
|
| Imagine being able to steal a printing press that makes bills
| that can't be linked back to a specific press, that's what
| they did
| dvt wrote:
| > Imagine being able to steal a printing press that makes
| bills that can't be linked back to a specific press, that's
| what they did
|
| I don't know if you understand how crypto mining works, the
| electricy expense, the infrastructure expense, the actual
| expertise in setting up geth/mining nodes, etc.
| BoorishBears wrote:
| I understand perfectly.
|
| What I don't understand is why people who claim they know
| these things are acting like you can't make money off a
| free Ampere card.
|
| -
|
| Like 99% of mining is initial capital, everyone knows
| that. GPUs alone don't make a farm but you realize the
| thieves are also motivated to not go to literal prison?
|
| Figure that a fence for stolen goods with trackable
| serials is already taking a substantial cut if they try
| to sell.
|
| Mining in an inefficient hacked together "farm" doesn't
| seem so crappy by comparison suddenly.
|
| It's not like anyone is saying they _have_ to do that,
| but it 's a very unique property of what they stole
| toyg wrote:
| Well, you could make a lot of money also selling arms and
| procuring mercenaries.
| dvt wrote:
| You're seriously comparing flipping digital art to hiring
| hitmen? I don't really think that's fair.
| toyg wrote:
| A lot of the crypto world is "morally dubious", let's
| say. To play in many of those sectors you mention you
| must be ready to live in very grey areas of the law, or
| even right outside of it.
| Barrin92 wrote:
| The more apt comparison is probably gambling or the
| financial sector making money from speculation on obscure
| financial instruments and my guess would be people on HN
| are negative about it for the same reason most people in
| general are negative about these things. It doesn't have
| anything to do with innovation, it's just meta-gaming
| obscure markets so the nouveau riche can buy themselves
| sportscars.
|
| I mean you said it yourself, not particularly bright
| people get filthy rich, why would actually bright people
| think that's cool
| bjornsing wrote:
| Yes, lovely incentives, indeed.
| moritonal wrote:
| I guess we looked at the personal wins vs the global
| downsides and made our choice.
| dvt wrote:
| But plenty of folks here work for [insert-evil-mega-corp]
| which has all kinds of "global downsides". Unless you're a
| hermit (or Stallman), this argument won't really work.
| Crypto's here to stay whether you like it or not.
| ashtonkem wrote:
| > Side-note: why is HN so anti-crypto?
|
| A variety of reasons. Some think that crypto is a socially
| pernicious bubble that'll get people hurt. Others still have
| to deal with the ransomware attacks that are only viable with
| crypto. Most of us are pissed off that crypto comes along and
| keeps ruining the price of hardware we want to buy. The
| environmentally minded are angry about the energy usage. A
| lot of us are sick and tired of the naked scamming and the
| dumb ideas that get floated on the subject.
|
| > I feel that if most HNers would just build a crypto
| business (DeFi, arbitrage, NFTs, tokenomics, etc.), they'd
| basically be overnight millionaires.
|
| Obviously not. That's just not how anything around money
| works. If it sounds too good to be true, then it probably is.
| Just because _someone_ got rich off a thing doesn't mean
| everyone will; after all some people got rich in pyramid
| schemes too, doesn't make it a good idea.
|
| Even when there is legitimately easy money to be made, the
| rush of people trying to exploit the opportunity usually
| drives the per person profits down to $0. If someone claims
| that there are easy, guaranteed millions to be made, your
| alarm bells should be going off.
|
| Furthermore, even this tiny whiff of "you're just jealous you
| didn't make millions flipping NFTs" is an ugly look.
| rattlesnakedave wrote:
| Decades later, we're still hearing "crypto is a bubble."
| I'm still waiting for that to be true. I'm sorry there's
| demand for popular hardware. That's how markets work. Green
| dot / prepaid gift cards used to be (and still are)
| accepted as payment for many of these scams. This isn't a
| crypto problem. The environmental claims are all FUD. None
| of them hold up to the slightest scrutiny. Getting scammed
| sucks, but that's a social problem, not a crypto problem.
| ashtonkem wrote:
| Decades later and I'm still waiting for a use case for
| crypto. I've yet to see a legal use case other than
| "number go up". If something has no actual use case and
| still continues to rise in price, then that seems like a
| bubble to me.
|
| > The environmental claims are all FUD.
|
| This is hilariously unpersuasive. Not even a hint of an
| argument, just "please ignore the TWh behind the
| curtain".
| f38zf5vdt wrote:
| Unlike motor vehicles, where you just clone the FOB signal, hop
| in, and then drive them to the docks.
| ed25519FUUU wrote:
| I saw so many California license plates in SE Asia.
| paxys wrote:
| Such cards are useless for mining, least of all in California
| where electricity isn't exactly cheap.
| kQq9oHeAz6wLLS wrote:
| But there are roads headed out of California
| rattlesnakedave wrote:
| Electricity isn't expensive everywhere. Let's say you want to
| mine ETH. 3090 can do 125 MH/s. At peak load they consume
| about 360 watts. If you're paying $.12/KWh (a little higher
| than national average) you're making $276/day.
| loonster wrote:
| Heating season has begun in the north. The cost per kwh
| needs to be reduced by the equivalent cost to heat.
| moffkalast wrote:
| I think it's more like $276/month, according to: https://ww
| w.cryptocompare.com/mining/calculator/eth?HashingP...
| [deleted]
| arrty88 wrote:
| Surprised they didn't have an airtag in the box
| spoonjim wrote:
| Why not push out a software update that disables the cards with
| these serial numbers?
| forgotmypw17 wrote:
| Funny enough, I'm getting this message:
|
| Access Denied You don't have permission to access
| "http://forums.evga.com/Notice-of-Stolen-EVGA-GeForce-RTX-30S..."
| on this server.
| ev1 wrote:
| If you're on an abusive VPN with bad reputation it's blocked.
| colordrops wrote:
| If 20 years ago a cyberpunk author pitched a story to me about
| thieves that steal a truckload full of AI-grade processors in
| order to profit off a digital gold rush I'd say "cool story bro
| but it doesn't make sense technically"
| glanzwulf wrote:
| Modern day Fast & Furious. Dom and the Family moved on from VHS
| and Panasonic tvs to EVGA gpus!
| 323 wrote:
| Don't companies insure shipments? What if the truck bursted into
| flames?
| jpgvm wrote:
| They almost certainly do. However this is a notice for
| consumers so they know that if suspiciously large numbers of
| EVGA GFX cards show up on Craigslist that maybe you should ask
| for serial to verify warranty status before you buy.
| cosmolev wrote:
| Notice of EVGA GeForce RTX 30-Series Graphics Card Bursted Into
| Flame...
| waterglassFull wrote:
| This may be wrong, but a friend in logistics once told me that
| some companies insure large shipments to a partial amount.
|
| So if you budget to lose X% of shipments a year that's inline
| with the savings of Y% payments.
| delecti wrote:
| Can you explain that logic?
|
| The possible cases I can see are: the insurance prices are
| reasonably fair (roughly equal to risk percent times insured
| value, plus some profit buffer), or they're significantly
| higher or lower than that "fair" amount. Given that, I have
| trouble seeing a case where the rational action is insuring
| _part_ of the value. If the cost is significantly higher than
| the risk-adjusted value, then it wouldn 't make sense to
| insure at all, and if it's roughly equal or significantly
| lower then it would make sense to insure as much as possible.
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(page generated 2021-11-03 23:00 UTC)