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Health insurance in the US has a concept of “deductible” and “copay” in the event of a failure; this is not dissimilar to copay.
by tgma 3y ago
Health insurance in the US has a concept of “deductible” and “copay” in the event of a failure; this is not dissimilar to copay.
- mminer237 3y agoA copay for someone else? I've never had my insurance company send me an extra bill because my neighbor got in a car accident.
- tgma 3y agoThe banks are not paying insurance to insure “themselves.” They are paying insurance to insure all depositors in the banking system, so the failure event belongs to the banking system at large not the failed bank in particular.
- dredmorbius 3y agoYou all but certainly have, though it's not usually framed like this. Many auto insurance policies include risk indicators based on location, age, educational levels, and similar factors. If members of that cohort prove to be a higher risk than earlier actuarial models had presumed, rates increase. That's similar in general spirit to what's happening here.