Bite your tongue.
How dare you infer that insurance companies could make less money....
Shame shame... ???? ????ÿ
Lord only knows how underwriters think. But, they should understand that the only real insurance underwriters in the world are at Lloyds of London.?ÿ
Some potential bias there I believe... ???? ???? ??? ???? ??? ????ÿ
The info in this link is a bit dated, but it tells the story well. If I buy a Tesla. and its value behaves as we're accustomed to in automobiles, then over 10 years or so, the value is going to drop something like 75%. If I pick a good syndicate in Lloyds, my money could double ever 3-5 years, or it could evaporate in one really bad year.
Its way, way out of my league financially and risk-avoidance wise, but it's a fascinating business where?ÿ unknown probabilities bump against huge liabilities in the underwriter's mind to produce a premium that produces a profit. He knows he's going to have claims; he "just" has to charge enough to cover them and have a substantial amount left over. Hubris won't cut it.
Talk about needing tailored pants to accommodate oversized gonads ....
How to become a Lloyd's Name - Capital & Conflict (capitalandconflict.com)
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