the.com/insurer
A company that bets you'll be fine and prices your doubt accordingly.
means A company or party that, for a fee, agrees to cover specified losses you might suffer later.
from Traces back to 'ensure/insure,' from Old French 'enseürer' — en- ('make') plus 'seür,' meaning sure or secure, itself from Latin 'securus.' So an insurer is literally one who 'makes sure' — though the certainty it sells is really just a well-priced guess.
- core trick
- profits when claims cost less than premiums collected
- real business
- investing your premiums before paying anyone back
- risk math
- spreads rare disasters across millions of calm people
- fine print
- designed so exceptions outnumber promises