What risk is an accountant sitting in SF City Hall taking? High risk positions - sure give them more security. Otherwise, treat them like everyone else. Also, people goto govt jobs because of job security as well - which is also a factor in lower income.
Perhaps not, but I don't think it's unreasonable to ask for a risk premium in your compensation. If you're more likely to die or be critically injured earlier than someone else of the same age solely because of the work you do, and your family depends on your income, it's not unreasonable to expect to be paid more to make up for the lost expected lifetime income.
(This is true for all dangerous professions, BTW - not just law enforcement and medical personnel.)