How do insurance represent a socialist?

Question

How do insurance represent a socialist?

Answer 1

Socialism refers to an ideology whose goal is a socio-economic system in which property and the distribution of wealth are subject to control by the community.

Insurance is not an ideology it is instead a voluntary transaction that allows one to transfer the possibility of loss to a business entity (i.e. an insurance company) in return for a premium.

Answer 2

However the insurance contract specifies.  The person's political leanings are irrelevant.