But if the owner is with the animal, the owner must accept the loss. It is different if the animal was hired; the money paid for the hire covers the loss. The presence of the owner during the incident shifts the liability: the owner who is present and witnesses the harm cannot then claim against the borrower for something that happened under the owner's own supervision. The hired-animal case introduces the principle that insurance is embedded in hire prices — the cost of borrowing a hired animal includes the risk of its death or injury. The economic principle that risk pricing is legitimate is the seed of actuarial thinking. Proverbs 22:3 says the prudent see danger and take refuge, but the simple keep going and pay the penalty. Accounting for risk in advance is wisdom, not excessive caution.

COMMUNITY REFLECTIONS

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