Buying insurance is a cognitive puzzle. We over-insure the frequent and under-insure the catastrophic. We anchor … Behavioral Biases in Buying InsuranceRead more
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Risk Pools and the Politics of Fairness
Insurance works because risk is pooled: many pay small amounts so that the few who suffer … Risk Pools and the Politics of FairnessRead more
Reinsurance: The Insurance of Insurers
Reinsurance is the safety net under the safety net. Insurers promise to pay when bad things … Reinsurance: The Insurance of InsurersRead more
Underwriting and the Human Pattern
Underwriting is the craft of predicting the future with incomplete information. It examines the human pattern—age, … Underwriting and the Human PatternRead more
Claims: How Stories Become Numbers
A claim is the moment when a story—my basement flooded, my car was hit, I slipped … Claims: How Stories Become NumbersRead more
Deductibles: Choosing Your Skin in the Game
A deductible is a line you draw: below this, I pay; above this, the insurer pays. … Deductibles: Choosing Your Skin in the GameRead more
Liability: The Cost of Being in the World
To live is to bump into things—physically, financially, legally. Liability insurance prices the cost of those … Liability: The Cost of Being in the WorldRead more
Auto Insurance: The Mathematics of Roads
Roads are algorithms masking as asphalt. Each trip is a problem in probability—speeds, distances, human attention, … Auto Insurance: The Mathematics of RoadsRead more
Property Insurance and the Weight of Walls
Homes feel permanent until a pipe bursts, a tree falls, or a spark finds old insulation. … Property Insurance and the Weight of WallsRead more
Disability Insurance and the Price of Time
Your income is your largest asset in present value terms. Disability insurance protects that asset by … Disability Insurance and the Price of TimeRead more