It probably has some risk, but the way we approximate things in finance, we take the government as riskless.

它可能存在一定的风险，但在金融学上，我们忽略其风险，将政府债券看作无风险。

耶鲁公开课 - 金融市场课程节选

There's still substantial insurance risk because the-- it could easily be only 15% or it could be 25% of the policies that end up paying.

这其中仍然存在一定的保险风险...,最后可能只有15%需要赔付,或者25%需要赔付

耶鲁公开课 - 金融市场课程节选