Re: Insurance Rant
Actually 'risk management' falls under two covers: Spread the risk as wide as you can and where is the property. Some just goes into a pool (think butter on toast) and other is 'there's extraordinary risk here.'
Don't know if its still the case, but there (back in the day) were 9 'risk' categories. One the lowest, nine the highest. Every thing from crime rates to fire protection got factored in. A lot of number crunching, but (statistically) actually very straight forward stuff. You could do "The Numbers" right down to a zip code.
Which is why some Insurance Companies don't even offer coverage (any kind) in some States. They'll give you lots of reasons for 'why not' but the bottom line is there's no way they could charge the Premiums needed to off set the risk(s).
"We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm." – Winston Churchill