In "true" lost baggage, I mean the loss of your baggage that is ultimately not returned to an owner and ends up in compensation.
According to the post here, the probability of the baggage being lost is 0.3%. However, this includes cases that the baggage is ultimately returned to the owner, which I assume consists of the most lost baggage occurences.
I would rather like to know how probable it is for you to lose your baggage completely. Is there any research or statistics on this area? Since the expected amount of money on compensation is ridiculously low in my humble opinion, I feel scared of this happening.