GoveNT 1% baggage loss on checked bags means that if you travel weekly for business you will lose your stuff once a year. Show me a pro photographer whose insurance will let him replace $20K of camera stuff once a year.
The situation with bag loss is a scandal. In particular it is responsible for the long lines at security - people would be ready to fly in paper pyjamas and no cabin bags if they *knew* that they'd get their clothes and stuff back at the other end. As it is, no laptop, important paper file or anything life-essential within the next 48 hours can be checked.
It's impressive to see how much energy in airports is expended on stopping "foreigners" bringing in contraband, and how little is done to stop local hoods from pilfering the bags under the eyes of the local police.
Edmund