Let's say there's a 1% chance of a $1,000,000 bug. Insuring against it costs $12,000/year (expected payout * 1.2).

It takes 40 hours @ $100/hour * 2.0 overhead to fix it = $8000: And the expected net value of 40 hours of developer work is $4000. This makes fixing the bug versus insuring against it a wash.

Assessing risk and evaluating alternatives is the basis for rational business decision making. Throw in a 1% chance that the bug fix produces a $100 regression bug, and the business case is for insurance.

Again there's nothing wrong with quitting a job you hate. But it is probably a mistake to assume that the entire operation is staffed by incompetents. People have different perspectives based on their job responsibility.

Good luck.