First we must introduce some musical terminology, with apologies to readers who are already familiar with it.
Everyone knows why they entered the actuarial field. The allure of what success as an actuary can bring - money, status, power - is a powerful attraction in anyone's book.
The subject of this paper is the mathematical theory of catastrophes. A catastrophe is a disaster. But there is, implicit in the word, the idea of a sudden change for the worse.