- Retired Electrical Engineer - Power Systems
You will likely be sued regardless of what you do. Over protection that leads to an event is just as bad as under protection.Worst case scenario will always be what is challenged in a court when something bad has happened.
The 'law of the land' says to follow an industry standard, and the leading industry standard says to consider the risk. Ignoring risk, is therefore 'picking and choosing' which part of the standard you want to follow.
Following your logic, Class 00 insulating gloves are only rated for 500VAC, therefore they should never be used on 480V systems as the worst case normal voltage, from the utility, could be as high as 504V at any given time.