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  •  I don't pretend to be an expert (1+ / 0-)
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    Killer of Sacred Cows

    on how actuaries calculate risk in any given situation.

    While your points, that a person can commit suicide only once, and a kid is unlikely to be holding more than one gun, are correct, see recent coverage of the Newtown massacre. Several guns were involved.

    I doubt that any hypothetical premium would increase fifteen-fold for keeping fifteen guns (auto premiums do not increase that way either). My thinking, and I am not an isurance company, is that multiple firearms stored casually pose a greater risk of having to pay out on any given policy. This is the reason that insurance companies employ actuaries, to calculate that risk and what premium would, over thousands of policies, cover expected losses.

    As to the insurance being punitive, price a life insurance policy for an airline pilot. They pay the most. Is that punitive? Calling an insurance premium punitive because you and your insurance company have to assume the risk posed by your gun sounds more like sour grapes than reasonable argument. I note that you did not address that portion of my comment.

    Trickle-down theory; the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows. - J.K. Galbraith

    by Eric Twocents on Mon Dec 31, 2012 at 06:27:09 AM PST

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