4 ms·
That is not, in fact, what insurance is.
by slibhb 2y ago
That is not, in fact, what insurance is.
- sumeno 2y agoIt is not what insurance should be, but it is in practice what private health insurance is.
- salawat 2y agoInsurance is an attempt at statistical multiplexing of a financial resource whose profit taking mechanism is investment of float, and management of spread, leading to perverse incentives when it comes time to actually pay out. As statistical multiplexing usually does, it improves things somewhat when you can't grow things larger, but when done for-profit with dividends, often disincents actually solving the capacity problem.