May 9 • 15M

Don't sell insurance to the Mafia

Though they do generally try to hide the bodies

Mary Pat Campbell
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Public finance, pensions, mortality trends from the perspective of Meep (Mary Pat Campbell), a life-annuity actuary. Less frequent topics: data visualization, actuarial politics, literature, opera, and sumo.
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“War insurance?”

“Yeah. We pay out if there’s a war.”

“Isn’t that massively correlated risk?”

“Yeah. The idea is, we sell war insurance to companies who do badly if there’s a war - tourist attractions and the like. Then we sell the same amount of peace insurance to military contractors. As long as we get the probabilities and costs right, we make the same profit either way.”

“Neat idea, how’s it going?”

“Great! Ayatollah Khameini just bought a ten billion dollar policy.”

“Of the war version or the peace version?”

“Can’t say, confidentiality agreement.”

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