Steve's barking; The landlord gets all the insurance money

What if all the tenants of an apartment building pooled their money with their landlord to buy insurance and the building Burnt down. Instead of giving the insurance money to all the tenants  the insurance company gave the money to the landlord. Now the landlord can keep all the money and make a grand profit on his ex building or he can give most or part of the money to his ex tenants.
 A person may ask what has this got to do with real life after all no tenants pool their money with their landlord to buy insurance? If you think of the Federal Reserve as the insurance company, the banks as the landlord, and the banks customers as the tenants you can get the impression that the Fed buying bonds isn't a very effective way of  fighting unemployment.
 The one good consequence of the Federal Reserve buying bonds it reduces the debt (off the books).