No. That’s not subsidization.

Of course insurance is about pooling risk. But subsidizing implies you’re doing it below market rates.

If I pay my market rate but still -EV insurance premium, I’m not subsidizing anyone. I’m just happy to pay for the convexity insurance provided.

If I have to pay 20% more than I otherwise would, because the insurance company can’t charge someone else 20% more, that is actual subsidization.

A subsidy distorts natural market forces. This is what I am talking about.

Don’t be so quick to be a dick.