Quotes About Insurance

People treated all remote probabilities as if they were possibilities. To create a theory that would predict what people actually did when faced with uncertainty, you had to "weight" the probabilities, in the way that people did, with emotion. Once you did that, you could explain not only why people bought insurance and lottery tickets. You could even explain the Allais paradox.*

banks—the biggest of which was the $13.9 billion AIG owed to Goldman Sachs. When you added in the $8.4 billion in cash AIG had already forked over to Goldman in collateral, you saw that Goldman had transferred more than $20 billion in subprime mortgage bond risk into the insurance company, which was in one way or another being covered by the U.S. taxpayer. That fact alone was enough to make everyone wonder at once how much more of this stuff was out there, and who owned it.

default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG—American International Group, Inc. Or, rather, a unit of AIG called AIG FP. AIG Financial Products was created

People's emotional response to extremely long odds led them to reverse their usual taste for risk, and to become risk seeking when pursuing a long-shot gain and risk avoiding when faced with the extremely remote possibility of loss. (Which is why they bought both lottery tickets and insurance.)

By law the life-insurance companies were not required to pay on deaths caused by earthquakes. But in Japan the law often comes second–in 1923 the insurance companies were ordered to pay money they didn't owe. In a crisis no Japanese company is really private; the insurance companies have been effectively nationalized. They have been told to pay whatever they can without depleting their domestic-securities portfolios. It is their peculiar charm that they don't argue.

The Obama administration has refused to back down on the insurance mandate that needlessly pits health care against the rights of the religious... This administration simply doesn't get it.

Since the 17th century, insurance agents have been the foremost experts on risk.

I am every single day talking with and working with people in my district who are seeing their health care insurance costs go up five times, 105 percent, 300 percent, that are getting pay cuts, that are losing 40-hour workweeks, that are having to work two and three jobs.

It puts the provider in a situation of looking for ways to have someone else pick up a piece of the cost. As a result, every customer who has insurance ends up paying a 'hidden premium.' It simply adds to the health care cost burden.

Why do insurance companies, when they want to describe an act of God, invariably pick on something which sounds much more like an act of the Devil? One would think that God was exclusively concerned in making hurricanes, smallpox, thunderbolts, and dry rot. They seem to forget that He also manufactures rainbows, apple-blossom, and Siamese kittens. However, that is, perhaps, a diversion.

Where America really differs from other countries is in the colossal costs of its health care.

According to their filings with the Securities and Exchange Commission, most for-profit insurance companies maintain a medical loss ratio of about 80 percent, which is to say that 20 cents of every dollar people pay in premiums for health insurance doesn't buy any health care.

Switzerland, and the Netherlands, any resident can choose any insurance plan on the market—and change to a new plan on short notice. That's a wider choice of health insurance than any American has.

The shortcomings of our system can be grouped into three basic problems: coverage, quality, and cost.

This is true even for something as mundane as insurance sales. A recent study examined knowledge about multiline insurance (life, home, auto, and commercial) in 150 agents. Not surprisingly, the highly successful agents—as determined by their sales volumes—knew more about the various insurance products than the less successful agents.

In 'Leverage,' I don't really play an insurance investigator but a man who used to be an insurance investigator.

Americans want jobs. They want affordable health insurance. They want an education.

everything," recalled a woman who heard Golda at the Astor. "He said to me, 'The only thing we have left, honey, is some paid life insurance policies. Do you want them now or when I'm gone?' I said, 'Of course, I'll take them now.' We got up and announced

Sharia has become an increasingly significant force in American capitalism, thanks to the embrace by Wall Street and the U.S. government of so-called Sharia-Compliant Finance. Indeed, this country's taxpayers now own the largest purveyor of sharia-compliant insurance products in the world: AIG.

However, not even Soros could persuade Congress to pass any laws, and ultimately these proposals failed. Soros, Gonzales, Leach, and others were up against stiff competition. In the past two election cycles alone, legislators received an estimated $100 million in contributions from banks, investment firms, and insurance companies.

Well, there are about 10 million children that aren't covered by health insurance. About 3 million qualify for Medicaid but don't get it, so we're going to reach out and bring more of those kids into the Medicaid program.

Under President Obama's new health care law, Medicaid will become a very different health coverage program than first envisioned.

Americans want and deserve a broad array of health insurance choices so they can identify those that best fit their own individual or family needs. These choices expand when we allow free enterprise to foster innovation, not smother it with taxes and one-size fits all ideology.

I was ten," I said. "Give me a little credit." "To a boy with aspirations like that, I would extend my respect—but not credit. Or life insurance." Abraham sounded amused. "You are an interesting man, David Charleston, but you sound like you were an even more interesting child.