Originally Posted by
biggestbopper
Don't know about Germany, but, I believe, in the US, while the protection may be through an insurance company, it is a company owned and controlled by Amex.
For AMEX U.S. I really do not find a hint if they run it on their own or handle it with a insurance in the back.
But still, when they run it on their own they need to respect the local and international laws. And also there is still a need for a reinsurance to cover this insurance.