ERM, COSO and accidents happen

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While reading in my textbook for an Information Systems class, I came across this passage.  

"By their nature, events represent uncertainty.  An event may or may not occur.  If it does occur, it is hard to know when it will occur.  Until it occurs, it may be difficult to determine its impact on the company. When it occurs, it may trigger another event. Events may occur individually or concurrently.  Therefore, management must anticipate all possible events, whether positive or negative, that might affect the company."

Can this not be summarized as, "Stuff happens, have a backup plan."?

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