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Heres a suggestion, why don't you tell your funds that you reinsure for to actually underwrite clients, then you could seperate smokers and non smokers for a start, which would lead to the default insurance industry which is a massive chunk of the market actually pricing its products to market and risk? As long as insurance is offered with no underwriting the default insurance industry is flying blind, they have no idea of the actual risk on the books at all. Who bournes the cost? Of course the underwritten clients get their premiums increased to offset it. Its ridiculous.