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Specifically, people are being persuaded to outsource risk at a steep premium rather than much more cheaply self-insuring themselves by laying aside less money
by Nomentatus 10y ago
Specifically, people are being persuaded to outsource risk at a steep premium rather than much more cheaply self-insuring themselves by laying aside less money regularly, or by accepting much higher deductibles. In order to increase sales, unnecessary products proliferate.
- sverige 10y agoAnd the risks are exaggerated to induce as much fear of loss as possible. The entire industry is built on fear of loss.
- Nomentatus 10y agoYes it's odd - even re relatively small losses. It's almost as though we're buying excess predictability, not being emotionally disturbed by losses we can absorb more easily than the premiums, often; but we aren't emotional about paying them.
- Nomentatus 10y agoAbove should read: "preferring not to be emotionally disturbed"