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Reload this Page Insurance companies make tons of money betting against the well-being of others how do you start one? (other questions)
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Old 04-06-2015, 08:50 PM
 
Location: Port Charlotte
3,930 posts, read 6,444,863 times
Reputation: 3457
Insurance companies made a bet on long-term care policies. But now people are living longer than the actuarial tables forecast, coupled with rapidly increasing costs. Now they are pulling out of the market due to increasing losses.

Even the big companies can bet wrong.

And BTW, they buy insurance from other companies who specialize in co-insurance to cover such situations.
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