You are dead right about acceptable risk my only concern is that these days some people think any risk,however small, is unacceptable.It seems to me that in all walks of life people take risks and if that risk doesn't pay off then things tend to improve,or is that a sweeping generalisation.

What is also of concern,as we are reading in papers about the floods,is insurers refusing to offer cover or the premiums being so high as to make things unaffordable.