The article discusses how important it is to understand tail risk in risk management and finance. The researchers looked at different ways to measure tail risk, which is the risk of extreme events happening. They found that certain measures, like value at risk and expected shortfall, are commonly used to measure tail risk. These measures have specific properties that help us understand and manage risk better. The researchers also explored other related topics, like how to combine different measures of tail risk and how to represent them mathematically. Overall, the study helps us better understand and manage the risks associated with extreme events in finance and insurance.