No, not a coin, it would be dollars, euros or whatever local currency. The blockchain is to keep track of the books in the public eye.

The pool of money is there until its depleted for the month with a cap of 10% per user, or it would rollover for the next month so more emergencies can be covered. A healthy society can build up a huge chest for when big emergencies hit.

If you want more coverage then you acquire a second tier risk insurance which has a bigger pool and different coverages so practically the market allocates resources more wisely.