Insurance: Making Risk Manageable and Progress Possible
Summary
Without insurance, the wheels of the global financial system would soon grind to a halt. Insurance makes risk manageable. Its fundamental principle is that the contributions of the many compensate the losses of the few.
Without insurance, the wheels of the global financial system would soon grind to a halt. Insurance makes risk manageable. Its fundamental principle is that the contributions of the many compensate the losses of the few. For several centuries, this model has worked remarkably well for countless businesses and individuals.