Back in the dark ages, the University I worked for had a lab full of computers stolen. I discovered that the University did not have insurance for this, or for

Back in the dark ages, the University I worked for had a lab full of computers stolen. I discovered that the University did not have insurance for this, or for a lot of things, because the University was a large organization with a lot of assets and could easily absorb the cost of theft. I'll assume they got the risk analysis right, since they wrote the textbooks on that sort of thing. The math changes though if you are dealing with a non-profit insurance system. For example, becoming a member of a well designed co-op, or a genuine non-profit insurance company (one that returns excess to members rather than pay bonuses to executives). But still there are problems, since not every member brings the same amount of risk, so you get a good deal if you know you are higher risk than the insurance company believes and vice versa.