Worst Case Scenarios

Drum had lunch with Felix Salmon. One takeaway:

We should all be more worried about the potential of a mass casualty event an epidemic, a gigantic earthquake, a massive hurricane, etc. to annihilate the insurance industry and take out the rest of the financial system as a side effect. The AIDS epidemic nearly did it, Felix says, and missed only because most of its victims weren't insured. A really big hurricane hitting Long Island could do it, though.