2daMoon
Mostly Harmless
Indeed they do. Loss frequency and loss severity. How many times does one need to repeat actuarial calculations for liability in auto insurance. Loss severity in automated systems is higher than that of direct human operated systems in almost all cases. We persist in ignoring that!
I was unaware that loss severity statistics for automated systems were higher. That would be interesting to learn more about.
Would there be a balance point where the excess of costs due to severity could be outweighed by the reduced frequency of less severe incidents?