The unfolding superyacht tragedy involving tech millionaire, Mike Lynch, and his family and friends has garnered extensive newsprint, and apportionment of blame in the UK and Italy this week.

Having sat on multiple balconies late night this past month looking out over picturesque Aegean seas with the dimmed lights of superyachts moored offshore, it now would seem to indicate that the Bayesian crew have overestimated their abilities to manage risk and underestimated what can go wrong.

It doesn’t stop us having empathy or sympathy for all involved and their families, just as we rightly should for the countless thousands of migrants claimed in the treacherous waters around Europe this year.

What it does remind us is that an owner with substantial wealth and the resources at his or her disposal, is not a “watertight” risk management strategy for “human error”. That is equally true in businesses we own, work with, invest in or from whom we buy essential products or services.

Readily accessible contingencies (Plans B and C) and redundancies (surplus cash, resources, back up systems) are a “must”, not a luxury item.