Lloyds of London – the home of quirky and unusual insurance

Lloyds of London, an organisation dating back over 300 years, annually underwrites billions in premium across its many classes of more ‘traditional’ insurance. Typically, risks are shared amongst its congregation of specialist and niche syndicates; the market operates on a subscription-based model with individual exposures shared amongst multiple syndicates, all who align themselves behind a trusted and expert ‘lead’ insurer. This model reduces exposures to single, generally potentially catastrophic events.

Whilst many people assume such catastrophes would result of unprecedented, natural disasters such as major weather events, it could also be the loss of function of an individual footballers’ legs, a darts players arm or even a chefs’ sense of taste. These are just some of the more unusual risks placed in the Lloyds markets over the last decade, which rightly grant it its status as the ‘leading specialist insurance market’.

Body parts and individual’s key assets are regularly underwritten in Lloyds of London, some of which we note below:

  • £40m David Beckham’s legs 
  • £4m Ken Dodd’s teeth 
  • £3.5m Bruce Springsteen’s voice
  • $1m Troy Polamalu’s hair
  • £350,000 Dolly Parton’s breasts (the pair) 
  • £200,000 Merv Hughes’ handlebar moustache

Venturing further, into the world of food and drink, a critical sense is taste. Needless to say, this has been insured here too. From celebrity chefs to chief tasters at high street brands, the sense of taste has been covered by an array of companies.

Here’s a flavour of our favourite ‘taste’ insurances seen by the Lloyds of London market:

  • Costa coffee insured the taste buds of their chief taster for a whopping £10m in 2009
  • Somerfield insured the Olfactory system of their chief wine buyer for £10m in 2003
  • Wyke Cheeses insured the sense of smell of their chief taster Nigel Pooley for £5m in 2015
  • Cadburys insured chief taster Hayleigh Curtis’ loss of taste for £1m in 2016
  • Antony Worrall Thompson insured his fingers and taste for £1m in 2003

Of course, whilst these are legitimate insurance policies that are structured and placed into the Lloyds of London market, recent examples of such cover are nothing more than unique, well-executed, and engaging PR stunts, propelling day to day brands into newsworthy and headline-grabbing focus.

Brands take this promotional approach, harnessing the notion of insurance and the alignment to the credibility and assurance of the Lloyds of London brand. The added perception of the huge value placed on the individuals making decisions about what products will end up on the plate or in the hand of the general public, adds further gravitas and interest.

The credibility, reputation and brand power of Lloyds of London and the ‘stamp’ of one of its member syndicates cannot be undervalued.

So, if you’re needing to insure some taste buds or require some other equally quirky or unusual cover, whether it be sports, business or personal, speak to our team today. We will find the right cover to suit your needs. #InsureResponsibly

Lloyds of London – the home of quirky and unusual insurance

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