I stressed in the third lecture that like any--insurance, like any other risk management device, is an invention.

在第三次课上我已经强调过了,保险和其它风险管理工具一样,是一种发明

耶鲁公开课 - 金融市场课程节选

Insurers, just like mutual funds, are providing risk pooling for you.

保险公司和共同基金一样,为客户提供风险汇聚服务

耶鲁公开课 - 金融市场课程节选

In Renaissance Italy they started writing insurance policies-- I read one of the insurance policies, it's in the Journal of Risk and Insurance-- and they translate a Renaissance insurance policy and it's very hard to understand what this policy was saying.

在文艺复兴时期的意大利,人们开始编写保单,我看过其中一份,刊登在《风险和保险杂志》上,他们翻译了一份文艺复兴时期的保单,但是很难理解那份保单到底想说什么

耶鲁公开课 - 金融市场课程节选