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That really isn’t true. The rich buy insurance like anyone else, they are even more aggressive about insurance with things like umbrella policies to protect the
by seanmcdirmid 2y ago
That really isn’t true. The rich buy insurance like anyone else, they are even more aggressive about insurance with things like umbrella policies to protect their wealth. They also hedge a lot, which is just insuring through investing.
- matwood 2y agoMaybe a better way to put it is that rich people have options. Of course if it's cheap for someone to offload the risk, they will. But if an insurer raises prices too much a people who can self insure will walk. Most people don't have that option so we continue to get squeezed with higher premiums and worse service.
- seanmcdirmid 2y agoRich people will definitely have more options so they can walk away from bad deals.
- matwood 2y agohttps://finance.yahoo.com/news/charlie-munger-said-warren-buffett-154854452.html https://finance.yahoo.com/news/charlie-munger-said-warren-bu...
- deleted 2y ago[deleted]