The doctrine of transubstantiation was off-and-on in Christianity from the third or fourth century but wasn't actually adopted by the Catholic Church until the 4th Lateran Council in 1215 AD. It wasn't formalized until the Council of Trent (1545-63 AD). So, to a 12th Century monk, transubstantiation may have been a "knotty theological question" but of no concern where salvation was concerned. I was kind of impressed how well Follet did his homework for that book.
Reason is poor propaganda when opposed by the yammering, unceasing lies of shrewd and evil and self-serving men. The little man has no way to judge and the shoddy lies are packaged more attractively. There is no way to offer color to a colorblind man, nor is there any way for us to give the man of imperfect brain the canny skill to distinguish a lie from a truth.
-- Robert A Heinlein. Assignment in Eternity, Loc 939 (Kindle edition)
"Knotty theological questions are the least worrying of problems to me."
"Why?"
"Because they will be resolved in the hereafter, and meanwhile they can be safely shelved."
-- Ken Follet. Pillars of the Earth, pg 696 (Kindle edition)
True but the bond acts as a proxy for an insurance policy.
Two things come to mind.
Programming a "friendly" AI may be impossible but it is to soon to tell.
A recursively self-modifying system lacking any guiding principles is not a good place to start.
That might depend the the kind of insurance. For example, here in California, I am required by law to have personal liability and property damage coverage on my cars. If I take out a loan for a car, the lender will require I have collision and theft as well. So, if I decide I want to drive on public streets, buying insurance -- rational or not -- becomes a part of the cost of owning and operating a vehicle.
Without the Perfect, the Good would have no standard for measurement. This is especially important when making popcorn or building airplanes.
Honestly, reading that quote brought to mind this one:
"One bleeding-heart type asked me in a recent interview if I did not agree that 'violence begets violence.' I told him that it is my earnest endeavor to see that it does. I would like very much to ensure — and in some cases I have — that any man who offers violence to his fellow citizen begets a whole lot more in return than he can enjoy." -Jeff Cooper, "Cooper vs. Terrorism", Guns & Ammo Annual, 1975
And you would be correct.