At times of crisis when everything is collapsed you know,there is no, people don't know where to go,"

VOA: standard.2010.01.20

Number of policies doesn't affect the means but it affects that standard deviation, so it becomes very collapsed and this is the basic core idea of insurance.

保单的数量并不影响其均值,但是会影响其标准差,所以这条曲线非常陡峭,而这就是保险的核心原理

耶鲁公开课 - 金融市场课程节选