>against known risks. Risks like death, which comes for us all. Risks like forest fires, hurricanes, and many other regularly occurring natural disasters.

These are clearly not known risks. If you knew when you were going to die, you would not purchase life insurance, as the total premiums due by the date of your death would equal or exceed the insured amount.

If you knew a forest fire was bearing down on your house, you wouldn't be able to insure against it. And in many areas prone to forest fires, you cannot insure against them, because they are so likely to occur.

Hurricanes and flooding are similar: build on a floodplain and you will either pay exorbitant amounts for, or be unable to purchase, flooding insurance.

> Risks like unemployment which will effect nearly everyone at some point in their life

This is not true, and even if it were the risk you are hedging against is that it will happen to YOU at an unpredictable time.

That is obviously completely different from insuring yourself against a risk that has a higher chance of affecting you than the average person and expecting that risk not to be factored into your premiums.

> If the risks were unknown, no one would know that they should be buying insurance to hedge against them.

Do you just pattern match against words? Do you see "known risk" and just assume it means something I clearly did not mean and which makes absolutely no sense?