Interesting. With a limit to premium ratio of 167 to 1, I like the odds as an insurer. Sign me up for that slip. If 1 in every 167 people in China get coronavirus that will mean a little over 8 million people will have contracted it. Some 8,000 people got SARS worldwide during that pandemic. Let’s say they were all only in China, for argument sake – CV would have to be roughly 1,000 times worse when all is said and done for losses to outstrip premium. Factoring in other costs lets call it 500 times worse than SARS for break even. I’ll take those odds. Makes me wonder if their motive is as altruistic as they claim.
Interesting. With a limit to premium ratio of 167 to 1, I like the odds as an insurer. Sign me up for that slip. If 1 in every 167 people in China get coronavirus that will mean a little over 8 million people will have contracted it. Some 8,000 people got SARS worldwide during that pandemic. Let’s say they were all only in China, for argument sake – CV would have to be roughly 1,000 times worse when all is said and done for losses to outstrip premium. Factoring in other costs lets call it 500 times worse than SARS for break even. I’ll take those odds. Makes me wonder if their motive is as altruistic as they claim.
Sounds like a no brainer for the insurance company to get some nice premiums and low payments
BOB- .