I kit up to counter the dangers posed by (1) impact to head in forced landing or in aerobatics/spinning ; (2) fire aloft or on the ground; (3) structural failure in flight, and (4) a survived midair (I do not wish to spend my last few minutes alive as a falling leaf). I offer my passengers flying kit and a chute, not so much from a risk assessment/duty of care point of view, but because it seems rude not to (although I'm a lawyer I definitely do not live my life by reference to risks of law suits. Most of the health and safety excesses of the kind deplored by the whinging lawyer-haters in Jetblast are not in reality lawyer driven).
Last Sunday, I meant to take my lifejackets to cross the Solent, but forgot to pack them. In the event, we had to cross at 1000 feet so could not have glided clear if the engine had failed (one Bulldog minus one engine equals one brick sh**house with wings). Some of this safety awareness blah may be down to experiencing the unexpected but happy prospect of fatherhood in middle age: if I die, my wife is well covered by my insurance, but I would like to meet my kid.