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If you are actually attacked by a shark, then... mostly you die - and whatever you do won't make much difference either.
That said, as a diver you have less chance of being attacked than being run over by a bus on the way to the boat.
The first part is entirely inaccurate. Check out the shark attack files at
International Shark Attack File
The VAST majority of shark-bite victims survive the incident. Since 1990, the fatality rate of shark attacks is only 9% worldwide, and just 2% in the U.S. That's because, as many posters have stated, that a shark may confuse a human with food, and after the initial bite(s), sharks discover that their victim is NOT food, and disengage the attack. Also, as a diver, you're much safer than people wading at the beach, snorkeling, surfing, etc. Of all shark attacks, only 9% occur to SCUBA divers.
:shocked2:
I completely agree with the second part of your post. Extreme fear of sharks is a reality for many people, although most of us understand it to be irrational fear. Of course, some people also have extreme fear of enclosed spaces, spiders, airplanes, heights, circus clowns, cracks in the sidewalk, etc. While it makes sense for a dive instructor to accurately respond to a student's question (since they obviously have a fear about it), I don't think training on the unlikely event of a shark attack should be normal part of OW curriculum.
Some interesting factoids on what you're MORE LIKELY to die from than an unprovoked shark attack:
Annual Risk Of Death During One's Lifetime (2003)
Cause - Annual Deaths - Your Odds
Heart disease 652,486 1 in 5
Cancer 553,888 1 in 7
Stroke 150,074 1 in 24
Hospital Infections 99,000 1 in 38
Flu 59,664 1 in 63
Car accidents 44,757 1 in 84
Suicide 31,484 1 in 119
Accidental poisoning 19,456 1 in 193
MRSA (resistant bacteria) 19,000 1 in 197
Falls 17,229 1 in 218
Drowning 3,306 1 in 1,134
Bike accident 762 1 in 4,919
Air/space accident 742 1 in 5,051
Excessive cold 620 1 in 6,045
Sun/heat exposure273 1 in 13,729
Lightning 47 1 in 79,746
Train crash 24 1 in 156,169
Fireworks 11 1 in 340,733
Shark attack 1 1 in 3,748,067
Source: All accidental death information from National Safety Council. Disease death information from Centers for Disease Control and Prevention. Shark fatality data provided by the International Shark Attack File. Lifetime risk is calculated by dividing 2003 population (290,850,005) by the number of deaths, divided by 77.6, the life expectancy of a person born in 2003.
© International Shark Attack File
Florida Museum of Natural History, University of Florida