[komali2]

I wonder if an insurance company operated as a co-op would be a better arrangement. Interested parties pooling money to pay out to the one unfortunate one who has a disaster. Could potentially invest the pool in super low risk investments as well for a little upside.

[lotsofpulp]

Mutual insurance companies have been a thing for hundreds of years. Some well known US mutual insurance companies are State Farm, Amica, Mutual of Omaha, and most non Elevance Blue Cross Blue Shield affiliated insurance companies.

https://en.wikipedia.org/wiki/Mutual_insurance