Insurance can remove risk from our investments and our day-to-day life by giving us the means to deal with rare misfortunes. Yet, democracies gain legitimacy by promising to protect voters against misfortune. The welfare state is the constant antagonist of simple insurance as a business model–on the one hand telling people it is unnecessary, and on the other forcing it to fulfill its empty promises.
How can we purchase or provide simple insurance in spite of the State? How can we use insurance to solve the problems that justify the State?