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By the time firms wake up to the fact that they are facing huge payouts on one or more horses, they have to honour the bets already struck.
Moreover, payouts on the swaps are triggered in different ways.
Greece's debt restructuring will prompt payouts on credit-default swaps tied to the country's government bonds.
There was a few nice payouts on $2 bets to win Friday.
They also developed computer programs intended to limit payouts on claims.
If employees walk, they could be leaving several years of future payouts on the table.
It estimated possible cash payouts on the swaps of between $5 billion and $8 billion.
But even a deal could spawn a series of events that could lead to payouts on Greek credit-default swaps.
Under the plans, a fund will be set up to provide payouts on properties that insurers are unwilling to cover.
5. British insurers will reveal the proportion of claims that result in payouts on Tuesday for the first time.
It finances itself by charging borrowers a premium that offsets the cost of payouts on defaulting loans.
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