4 ms·

Most insurance in most industries is a racket.

• floydnoel 2y ago
  The famous Lloyds of London started as a gambling coffee house. Gambling and insurance are closely related, and offer the same bargain: the house always wins.
  • cromulent 2y ago
    > the house always wins Well, until Lloyd’s did lose a lot of money in 1991, and the Names had too much exposure. Berkshire Hathaway cover them now, I believe.
    • aspenmayer 2y ago
      That's rich.