Insurance is a mundane and almost universally despised topic. Does it hold the fabric of society together?
Insurance as Volitional Technology
The attitude I received about insurance from my family and social network growing up was that it wasn't much more than a scam. You get just enough so the state doesn't slap a ticket on you, and so your family doesn't guilt you for not having it. My father regularly drove without car insurance and my mother could never give me an adequate explanation other than I "just needed to have it".
I've learned much since then, and it occurred to me one day after getting some real training on the usefulness of insurance and some historical perspective of where it came from, that insurance is one of the primary tools we use to keep our societies running.
What exactly does it mean to "mitigate risk"? Video below.
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