This is a perfect example of narrative logic. Superficially it looks attractive and reasonable, and I don't doubt this is how the rich really think.

The problem is that wealth and safety come from mutuality. Life is more peaceful and secure with mutual good will, intelligent strategic planning, and cooperation.

So thinking of wealth as insurance in a Hobbesian way actually generates problems and instability.

It's a 'solution' that creates the problems it claims to solve.