I dunno seems to me just that in every case of insurance, some people are paying in who are never going to see a pay out, and their monetary value of purchased protection is essentially wasted cash.
In the case of shipping, the point was to insulate rich sailors, who had more ships, and more valuable cargo on their ships, in case one of those ships sank. Inevitably, even the poor ship owners who were paying in were paying in the same amount as the rich ship owners, but were probably getting back much less value if one of their ships sank versus one of the rich ones.
In all cases there are winners of this lottery we call insurance. I don't really see it as sharing risk or spreading risk around, because in the case of the rich ship owners (or, in health insurance, in the case of the old and infirm) certain people are going to benefit far more than others, and pay in far less than they get paid out.
The whole things a fucking scam. I'd ban insurance and make everyone pay out of pocket for small shit while the government covers through taxation the catastrophic shit if I had my way.
You want viagra? Go pay for it yourself. You need a total heart transplant because you have heart disease, your taxes pay for it.
That's just me though.