That's not how insurance works. You buy insurance if there is an uncertain outcome, e.g. a 1% probability of having a $100k claim. In which case you can expect

That's not how insurance works. You buy insurance if there is an uncertain outcome, e.g. a 1% probability of having a $100k claim. In which case you can expect to be charged around 1% of $100k (plus admin costs and whatnot). Perfect information means you know the exact probability of the event happening. It doesn't mean that you know with certainty whether an event will happen or not. That would require a crystal ball or a time machine.