Chat_147 - Insuring the Uninsurable with Rob Hamilton - Bitcoin Audible

"One of the founding tenets of anarcho-capitalism [is] that in a world without a government, you would have insurance contracts as the means for negotiating, disputing things. This actually goes into the original fire departments were actually insurance companies. You'd purchase fire insurance from a particular purveyor of fire insurance and you would actually stamp on the cornerstone of your building, the sigil of whatever insurance company was protecting your property. If the fire burned the building, the insurance company's on the hook. It's the most skin in the game, risk aligned way to get different parties to align on an outcome as an insurance contract. It's so much cheaper just to have an on-call fire bucket brigade team than to rebuild a building. So in the world without a government, you have insurance contracts." ~ Rob Hamilton In th...