What this means in the insurance context is that if you offer insurance policies you will tend to attract people who are higher risk.

保险中选择性偏差的意思是,如果你提供某个险种,吸引的是承受该险种风险较大的人群

耶鲁公开课 - 金融市场课程节选

Subprime refers to mortgages, which is not the subject of today's lecture, but a subprime mortgage is a mortgage issued to a borrower who is not considered prime--not a good risk.

次贷指的是次级抵押贷款,这不属于今天的讨论范围之内,次级抵押贷款是发放给特殊借款人的,他们不是优质客户,也就是说风险较大

耶鲁公开课 - 金融市场课程节选