Actuarial mathematics.
Insurance compares to gambling only in the way a bookmaker or a casino proprietor gambles. The odds are calculated and the fees are set accordingly. There is little risk involved.
Unlike bookmakers, insurance companies are not necessarily compelled to pay out on claims. If they can find a loophole, no matter how tenuous, they may … Read more
Insurance compares to gambling only in the way a bookmaker or a casino proprietor gambles. The odds are calculated and the fees are set accordingly. There is little risk involved.
Unlike bookmakers, insurance companies are not necessarily compelled to pay out on claims. If they can find a loophole, no matter how tenuous, they may … Read more
