Double standard in reporting gender based insurance costs

[TreasonousBastard]

2. I spent around 20 or so years as a insurance underwriter...

insuring ships and cargos but the principle is the same-- you rate on the experience of an account or a class.

Don't have time to read the articles, but I doubt there's much actuarial data about the difference in claim frequency or expense between men and women, but when we talk about "equal coverage" are we including pregnancy and birth? Men don't have regular gynecological services and don't seem to go to the doctor much at all unless necessary. But, does this not going for checkups end up costing more when simple conditions turn complicated? Or, does more physical trauma with men equal out the costs?

Most people not in the business don't understand that the "insurance" part of a policy is for unexpected expenses, not normal expenses. If you are going to experience $1,000 in claims in a normal year, the premium starts at $1,000 and goes up from there-- the company isn't in the business of paying your bills. If one year you have a $100,000 claim, that's why you bought the insurance.

This principle works for both an account or a class. If we're talking about a class, like male drivers under 25 or post menopausal women, the total "normal" costs for all members of that class are spread among all of them and the premiums go up from there.

Messing with the system for political purposes doesn't change the arithmetic, just moves the bills around.