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Cake day: June 8th, 2024

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  • 10 years ago I had a senior director at a large fortune 50 corporation tell me that because of the dire state of US education, the only way to ensure a candidate could read, write, and do basic math was if they went to college. As someone who now does lots of corporate hiring, it’s only gotten worse. It’s especially bad in technical fields where about half the CS grads I interview can’t even answer basic questions like “What’s an IDE?”
















  • It’s just a larger risk pool made up of other insurance companies. When you have a home insurance policy, you’re entering into a risk pool with everyone else in your policy that’s essentially a hedge against some catastrophic loss, everyone in the pool pays for each loss and it spreads the burden out, rather than a single member losing their home or going bankrupt.

    For the home insurance example, when you have insurance companies that cover risk pools in one geographical area, especially smaller agencies that are regional, they have to hedge against the risk of a catastrophic loss so large the risk pool can’t cover it (like California wildfires) So they enter into an even large risk pool with other insurance companies.

    This chain can actually go on for a while with several layers of reinsurance.

    So while you do hire a company to manage the risk pool, really the risk is divided amongst the members/policy holders in the pool.