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The world could end this year—on Dec. 21, to be precise. Doomsday theorists have hyped 2012 as the year of Armageddon, citing the predictions of ancient texts from the Egyptians and Mayans as supporting evidence. Others say Nostradamus may have predicted that a significant cataclysmic event, such as a comet impact, will devastate the earth in 2012.

News reports have highlighted people who are stocking up on supplies in preparation for humankind’s grand finale, and we have seen “end-of-the-world shelter” companies selling public bunker space. Although this may seem a bit kooky, insurance company risk professionals may benefit in 2012 from the strategy of “hope for the best, plan for the worst.”

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