It’s like Jon said. Human Action Chapter 7:Uncertanty sections 3 and 4. In addition you should also listen to Hoppe’s audio clip “Economics of Risk and Insurace”, Mises University 2001.
“The example of unemployment. As you know, there exists such a thing that is called unemployment insurance. But as we all know, in the modern world, we have invented the art of naming things with terms that are completely inappropriate and trying to fool people into believing, that by changing the words, we change the nature of things. Unemployment is of course also an uninsurable risk. I have full control over being employed or not being employed. All I have to [do is] tell my boss what I really think of him and I will be quickly fired. On the other hand, I can almost always make sure that I will be employed if I’m willing to take drastic wage cuts. For instance, “I’ll work for free for you.” In that case I would be employed. So obviously, this is not a risk that is strictly speaking insurable. It falls into the realm of individual responsibility.”
(19:43 - 20:56)