I ... I ... I have a hard time saying this but I think it's possible that Paul Ryan doesn't understand what insurance is.https://twitter.com/CitizenCohn/status/839884883015118849 …
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True, but this is exactly the problem with insurance in cases of immediate need: def. doesn't work.
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Irrelevant how many payers, only relevant how policies are priced. If pricing is based on risk, it's insurance.
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I agree, but I think it's disingenuous to say "that's how *insurance* works." In P&C/Life, there's no ex-ante subsidy from 1 group
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sorry are you saying P&C risk doesn't work by sharing of risk? Everyone's rates go up when Cat losses occur.
End of conversation
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