We're pleased to be hosting issue #134 of the Cavalcade of Risk. We kick off this issue with an excellent TED presentation by Bruce Schneier on The Security Mirage which talks about how the feeling of security and the reality of security don't always match. He looks at why we spend billions addressing dramatic but rare risks that make headlines while neglecting more probable risks -- and how we can break this pattern.
Schneier is a renowned security technologist and author with an excellent blog. Recently, Morgan Housel of The Motley Fool related the five cognitive biases that Scheir spoke about to lessons for investors.
Our regular roundup
This week, our blogger participants have submitted a tasty smorgasbod of entries on a variety of risk-related topics.
We start with a pair of posts by our fearless leader, Hank Stern, from InsureBlog. Have you heard about the growing practice of personal car sharing? Hank looks at the consumer risks associated with the newly expanding "peer to peer" car sharing services industry in his post Stupid Client Tricks: P & C Edition. It's a great and informative post, but we would be remiss in leaving his blog without directing you to another post entitled Bark, Screech, Yowl. You'll have to click through to see the topic but here's an inducement to click: this post includes a video of a cat driving a car.
While on the topic of insurance, we have a pair of posts that look at other aspects of your personal coverage. For your auto coverage, Philip Taylor asks what's the catch when it comes to Safe Driver Discounts in a post that examines the fine print of safe driver discounts. And do you know your financial exposure if your home should be destroyed in a disaster? At Canadian Finance Blog, Tom Drake asks if you have enough insurance on your home.
Speaking of disasters, we know that catastrophic weather events are expensive, but rain? At Risk Management Monitor, Jared Wade looks at the the high economic costs of routine weather events. And on the topic of everyday-weather-related risks, we point you to our recent post here at Workers Comp Insider on lightning and lightning strike survivors in what we call "the one in a million club you don't want to join."
Businesses & cyber exposure
At Terms + Conditions, Claire Wilkinson posts about the recent spate of cyber attacks, highlighting the exposure that many businesses face. (And we would note that you don't have to be a bank or financial institution to have exposure. Note this recent item on how employers are vulnerable to a security breach by their own employees' ignorance of phishing scams.)
Data risks are here to stay. At DePaolo's Work Comp World , the topic is the convenience and risk of electronic records. He notes that the real real issue is the ease by which sensitive information may be obtained in large quantities, then analyzed and/or utilized for malicious purposes, and underscores the above point that employees rather than hackers likely constitute the biggest risk.
Healthcare related matters
How did one hospital address the increasing risk that nursing home patients will be transferred to a hospital for their end of life care? Jason Shafrin of The Healthcare Economist explores the issue in his post about maximizing utility for end-of-life care.
David Williams of Health Business Blog demonstrates the risk of being an early adapter of online services in his post about the disappearance of Google Health. He also offers a case study in physician risk in a post dissecting a medical malpractice defense related to a paraesophageal hiatal hernia repair and Nissen Fundoplication procedures.
Does providing user-friendly, patient-centric, clear, concise and objective information about the risks, benefits and alternatives of various treatment options enable consumers to choose wisely and forgo risky, dubious and expensive options. Jaan Sidorov posts about Health Advocacy Groups, Evidence-Based Medicine & Shared Decision Making at Disease Management Care Blog .
Safe retirement planning
Variable annuities are often promoted as a risk-free way to receive consistent retirement income. Kevin Mulligan of Retirement Planning Blog looks at the truth of the matter in his post on the risk of variable annuities.
If you plan to retire before Medicare kicks in, what are your healthcare coverage options? Free Money Finance looks at various ways to get retiree health insurance before the age of 65.
Assorted terrifying perils
For our final entry, Consumer Insurance Blog poses the most important question of the day: Are you ready for the Zombie Apocalypse? Find out before it's too late.
That concludes this week's edition - thanks to all submitters!
The next issue of Cavalcade of Risk is scheduled for July 13 at the Notwithstanding Blog - see you there!