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The Insurance Industry Responds to Every Need...Regardless How Strange

There are a string of specialty insurance companies who provide coverage for specific events like "Hole In One" promotions for golf tournaments and "Rain Insurance" for weddings and other outdoor events. But beyond that group of insurers there are companies who take it even a step further.

Lloyd's of London is famous for at least considering any insurance proposal. But Lloyd's, and others, do more than just consider. Here's a short list of policies actually issued.
  • J Lo insured her derriere for $10 million. We wonder how the underwriter determined the value of the asset.
  • John Harrison, the Dreyer's Ice Cream taster has had his ice cream loving taste buds insured for over $1,000,000 for many years.
  • Comedian and former U.S. Meteorological Service hurricane namer, Rich Hall, insured himself against permanent loss of humor. We haven't heard from Rich lately and wonder if he has submitted a claim.
  • Lloyd's actually has a policy that insures the loss of chest hair if it "adversely impact a person's image or career." We're guessing Brad Pitt isn't a policyholder.
  • When you think about it "Twins" insurance makes sense. There are several companies who will provide lump sums should a mother have twins. The idea is to offset the cost of two of everything. Applications have to be made prior to the twelfth week and if the mother had any fertility treatments all bets are off.

And As a Public Service We Alert You to This Special Coverage

It's October and Halloween is just around the corner. What have you done to protect you and your family from poltergeist activity? While it's probably difficult to find insurance against specific risks like goblins, ghouls and zombies, you can get coverage against the spirit world if it manifests itself as ghosts.

SpookSafe is a policy issued by the specialty company Ultraviolet that protects its customers from injury or death caused by ghosts, poltergeists, or other paranormal phenomena. Apparently for an extra charge you can purchase a rider that will pay if you or a covered member becomes a vampire or werewolf.

SpookSafe actually paid out a claim for over $100,000 to a woman's family after she was thrown over the second floor banister in her home. Investigators for the company determined that ghosts were involved in the tragedy.

To borrow a line from the Cowardly Lion, if your mantra is, "I do believe in spooks. I do believe in spooks. I do. I do. I really, really do!" then SpookSafe may be just the product for you.

So we've had a little fun with insurance policies that cover the weird and unusual but even these policies point out the desire for people to share risk. Who knew that there
would be a community of 40,000 that would share the risk of alien abduction?

But the fact remains that people and companies turn to the insurance industry to take on risk that they don't want to take on by themselves.