Post AQb7PlQmFPM7WIhSro by fluffy@social.handholding.io
 (DIR) More posts by fluffy@social.handholding.io
 (DIR) Post #AQb42rHO2Lzb8Uh52e by cjd@pkteerium.xyz
       2022-12-14T12:06:59.372240Z
       
       4 likes, 1 repeats
       
       How does insurance work?I mean, I know how it supposedly works - but how they price premiums?How does regulation prevent you from making an ultra-cheap insurance company and then just collapsing as soon as you have an unexpected number of claims?Technically all insurance is insolvent because if everyone claimed at once, there is no way to pay, but how do they decide "enough risk" from "too much"?
       
 (DIR) Post #AQb5b7TSQpjHAAEzQG by Beefki@noagendasocial.com
       2022-12-14T12:24:27Z
       
       2 likes, 0 repeats
       
       @cjd At the beginning of the year the insurance companies make deals with hospital networks about how much they will pay out to the hospital. The hospitals then set prices so as to get all that money without ever having to perform "free" healthcare.This is why you're fucked if you don't have insurance, the price isn't based on what service costs but on how much can be milked.Insurance is a scam and they're no more insolvent than any other scam.
       
 (DIR) Post #AQb7PlQmFPM7WIhSro by fluffy@social.handholding.io
       2022-12-14T12:44:37.468245Z
       
       1 likes, 0 repeats
       
       In finance, the maximal amount at risk is often determined by govt regulation. for insurance, i'm less certain, but probably is a similar situation. However, they may instead use historical data. Hardy is very accessible to lay people and you may find the answers you look for in the following book (i have not read it). http://mech.math.msu.su/~falin/files/Dickson,Hardy,Waters(2009)Actuarial_Mathematics_for_Life_Contigent_Risks.pdf
       
 (DIR) Post #AQb83xiK005nCM4fBo by jeff@federated.fun
       2022-12-14T12:52:04.308542Z
       
       0 likes, 0 repeats
       
       @fluffy @cjd what if... bitcoin price insurance?
       
 (DIR) Post #AQb8CJ1KfJUXb1we6C by fluffy@social.handholding.io
       2022-12-14T12:53:19.931755Z
       
       0 likes, 0 repeats
       
       what if your mom bit my price
       
 (DIR) Post #AQb8RCeacSKAC4PWvw by jeff@federated.fun
       2022-12-14T12:56:15.471120Z
       
       0 likes, 0 repeats
       
       @fluffy @cjd kinky
       
 (DIR) Post #AQb9JQ1r6eyxJW94K0 by opal@ap.maladaptive.art
       2022-12-14T13:06:00.476024Z
       
       1 likes, 0 repeats
       
       @cjd do we need insurer's insurance(i hate insurance policies in general)
       
 (DIR) Post #AQbDJDyuIZdxlWveme by BadOptniks@poa.st
       2022-12-14T13:50:51.706269Z
       
       1 likes, 1 repeats
       
       @cjd The premiums are based on the pooled insured together.  There are hundreds of pools in many different market classes from open to corporate etc. The pools are priced to exceed calculated risk and margin.  There were more jews in Europe after ww2 than before it.
       
 (DIR) Post #AQbV9xIakjPUaurlOS by fl0wn@in.atwistedsystem.com
       2022-12-14T17:10:46.783106Z
       
       1 likes, 0 repeats
       
       @cjd I'm not sure about the regulations but the people who calculate the acceptable risk are called actuaries.