Chicago Board of Trade offers world's first health insurance futures contract.
The Chicago Board of Trade has announced plans to offer the world's first health-insurance futures contract. The contract will allow investors to bet on whether premiums for policies underwritten by various commercial-insurance carriers will rise faster than paid claims.
"A Bush-administration panel predicted yesterday that health-care costs will consume a 'stunning' one-third of the nation's total economic output within 30 years."
-- From the Boston Globe, December 20, 1991
"Interesting." -- George Bush's response to his panel's report