Public insurance is an academic concept and research area focusing on collective risk-sharing mechanisms established and administered by governmental or quasi-governmental bodies. This field investigates the design, financing, governance, policy effectiveness, and societal impacts of programs intended to provide social protection against various risks, characterized by features such as mandatory or near-mandatory participation, social equity objectives, and reliance on public authority for funding and implementation. Its significance lies in its role in addressing market failures in private insurance markets, mitigating social inequality, and serving as a fundamental component of the welfare state.