Insurance is necessarly on average more expensive than paying for whatever is insured. The insurance company pays accountants, lawyers, etc. Whether insurance is necessary to society is debatable, but these jobs would not exist without it, which means insurance makes a higher GDP.
Insurance is necessarly on average more expensive than paying for whatever is insured. The insurance company pays accountants, lawyers, etc. Whether insurance is necessary to society is debatable, but these jobs would not exist without it, which means insurance makes a higher GDP.