Pronunciation: /rɪsk pul/
noun a financial arrangement where insurance companies combine their resources to cover a large number of policyholders
A1 A risk pool is a group of people who share the financial risk of healthcare expenses.
A2 In some countries, individuals can join a risk pool to help cover unexpected medical costs.
B1 Insurance companies often use risk pools to spread the financial risk of covering high-cost individuals.
B2 Actuaries analyze data to determine the appropriate premiums for individuals in a risk pool.
C1 The concept of risk pooling is essential in creating a sustainable healthcare system.
C2 Government policies can influence the effectiveness of risk pools in managing healthcare costs.
formal The insurance company uses a risk pool to spread the financial risk of covering high-cost individuals.
informal The risk pool helps insurance companies cover the costs of people with expensive medical needs.
slang The risk pool is like a safety net for insurance companies to handle expensive claims.
figurative Think of a risk pool as a way for insurance companies to share the burden of covering costly medical treatments.
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