When you are trying to make a business succeed, then you don't buy insurance against all eventualities. A leading money center bank, well-known for its derivatives sophistication, notoriously used to employ a 'risk manager' whose main tools were a spreadsheet and a baseball bat. Investors don't like to hear the word risk, unless you follow it with management. There is a lot of risk we take all day long that is not particularly quantifiable. You can still get screwed even with good risk management.
Risk management is akin to a dialysis machine.
If it doesn't work, you might have a noble obituary, but you're dead. By definition, if you're looking for ships across a certain strip of ocean, the enemy will attack you somewhere else.