One of the most difficult problems in risk management is dealing with what’s called a “High impact, low likelihood incident”.
Think of the risk to you from having car trouble in the middle of nowhere, where there is no cell-phone reception. If you were to try to come up with safeguards that would prevent you from being stuck in the middle of nowhere, you might imagine having a backup satellite phone, or a small motorized scooter in your car trunk.
For these kinds of rare events, it’s usually extremely expensive to come up with a safeguard that could prevent the worst case of the incident occurring.
What can you do?
But one thing you can usually do is prepare to respond. If you do get stranded somewhere, having some food, warm clothing, etc. can reduce the most severe impacts from a “High impact, low likelihood event” with a bit of common sense. You just have to think through the situation.
The Streetwise Security Coach