“Moral hazard” is a term used in the insurance industry to refer to the way in which behaviour alters when people acquire insurance. People with house contents insurance are less careful about locking up. Such behaviour in the eyes of insurers is “immoral”. The term stigmatizes human nature. We all adjust our behaviour in response [...]

Dear Sir
Simon Jenkins (4 April 2008) exposes the Achilles heel of all the proposed eco-towns: transport. But he is a trifle hard on the motives of the original proponents of the garden cities and new towns. Relieving the squalid, densely packed, inner city slums by providing houses in new settlements, with gardens, in which people [...]

God, I suspect, finds Photoshoppers especially amusing. Grudging thanks to Peter Holtham for spoiling my tutorial. See http://www.cargolaw.com/2005nightmare_catch-day.html for the answers to the questions posed at the end of my last post.

The words “risk” and “management” sit uncomfortably alongside each other. Many people believe that it is possible to distinguish “real”, “actual” or “objective” risk from “perceived” risk. But all risk is perceived. It is a word that refers to the future, a future that exists only in our imaginations.
Those who call themselves risk managers purport [...]