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Insurance is fundamentally a group activity --it is a shared risk pool. There is no such thing as individual insurance. The question is how groups are formed. C
by nijk 13y ago
Insurance is fundamentally a group activity --it is a shared risk pool. There is no such thing as individual insurance. The question is how groups are formed. Currently, US does it around business units. UK does nationwide.
Somalia does individual, AKA, no insurance.
- mgkimsal 13y agoGood point. Using those terms, doing it around business units seems to be more harmful than doing it around an entire nation (or even just a state). Tying to a business/company means people themselves are artificially tied to a particular company when they might be better suited (talent/skills/lifeneeds) to be at a different company.