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A comment on Mercury Spill. Parent comment

Re:Mercury Spill by TeMPOraL on Friday October 09, 2015 @11:23AM (#10360615)
We have a whole subthread here about how insurance companies will refuse to pay when push comes to shove; I don't really believe in the peace of mind anymore.

What I'm looking for is the ELI5 for what insurance really is about (especially from the POV of insurers) given that, if I understand correctly, 'chimeracoder is disputing the insurance-as-everyone-pooling-money model.

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Re:Mercury Spill by mreiland on Monday October 12, 2015 @03:28PM (#10376515)
For some definition of "reall", amirite?

people and business purchase insurance to cover unexpected loss, ie, "peace of mind".

Maybe insurance companies are evil scumbags, but that's STILL the reason why people PURCHASE insurance.

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