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March 28, 2011



Excellent review!

I saw that image when Seth posted it this past week and had the same thoughts RE: "actual risk vs. perceived risk and the sometimes uncomfortable balance of frequency of loss vs. severity of loss."

Generally speaking, people are very, very poor at math and statistics. People become panicky at the thought of 100 people dieing in one large incident, but are largely oblivious to 1000 people dieing in small incidents over a 5 year period.

As an aside, has had some good coverage of the disaster from an insurance angle as well.

Dan Hull

Well done, as usual, sir.


Life can be such an odd and ironic entity. All that destruction in Japan happens and so many good people dead because of it. And yet somehow Alexandra Wallace was not there to sun herself the whole time. Well, at least she kicked herself out of school:

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