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Originally Posted by Indy Coug
I'm curious if this kind of insurance is actually priced by actuaries. It's certainly outside the realm of traditional actuarial work. But whoever was behind it screwed up royally.
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I don't hihnk it is underwritten like typical life or casualty insurance. I think they do it more like a resinurance program, where thye look at a markte risk. I think Levin's descirption is accurate, as I understand it. This does all tie back to the housing fiasco.