Rick Bennett, who is the U.K.’s only sponsored disabled surfer, of St. Agnes, U.K., surfs a big wave at Trevaunance Cove in the Cornwall town of St. Agnes, U.K. (. Photographer: Suzanne Plunkett/Bloomberg News) 

Book Excerpt: Risk Management: Big Wave Surfers Are Just Like Actuaries, Only With Better Tans

You might not think a big wave surfer and a financial engineer have much in common. But they both face the same problem: insurance removes the downside and leaves us with unlimited upside, but that...

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