Despite 2020's volatile political environment, the Pandemic Risk Insurance Act of 2020, or PRIA, may be the best hope to achieve predictability for the economic consequences of future pandemics. (Shutterstock) Despite 2020′s volatile political environment, the Pandemic Risk Insurance Act of 2020, or PRIA, may be the best hope to achieve predictability for the economic consequences of future pandemics. (Shutterstock)

The COVID-19 pandemic is the latest event to prompt questions about how society navigates very low-frequency, very high-severity events.

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