the insurers think it is risky. :)

Also one cannot look at things by statistics only - take driving - it is a necessity for most everyone - but sports like SCUBA diving, or in this case, I am not even sure Bungee Jump can be classified as sport - it is more like adventure-seeking, pleasure-seeking activities...

Besides, the one in a million chance of accidents - such as the cord suddenly breaks?

There are many factors going into play whether insurance would be a viable offering.