Crazy But True Insurance Policies

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Crazy But True Insurance Policies

You may have noticed that our new website design incorporates some not-so-typical perils, including dinosaurs, aliens, and a few whatchamacallits. Far fetched? Maybe not. 

Over the years there have been some wild and wacky claims and policies reported throughout the industry that seem too crazy to be true. What better way to launch our new site than to have some fun and take a look at these insurable (seriously?) scenarios? Let’s get to it!

Wild and Wacky Insurance Policies from Around the World

Insurer Releases Waiting List for Alien invasion Coverage

Wild and Crazy Insurance Claims and Policies - Alien

At the onset of summer (2020) the Pentagon made headlines, reporting that they found “offworld vehicles not made on this earth”, essentially admitting the existence of UFOs. They followed that report with news that their UFO program from decades past had yet to be disbanded. This news has prompted more than a few households from around the world to wonder if now is the time to prepare for E.T.’s arrival. And as any sound person knows, preparing for a peril equates to buying insurance to cover it. Would any insurer dare to offer such a thing? Look no further than three years ago for your answer. 

Back in 2017 when NASA announced the discovery of seven Earth-like planets in another solar system, one UK based insurer took action. The insurer put out a press release to inform customers that they have created a waiting list for homeowners interested in alien invasion coverage. Before you chalk this up as a publicity stunt, take note that in 2011 another insurer had sold over 30,000 alien abduction insurance policies.

Presidential Policy to Protect Against a Dinosaur Attack

Crazy Insurance Policies - Obama

We’re stretching the above heading a little, but some scientists say that crocodiles are direct descendants of dinosaurs. And in some places (Florida, Australia, etc.) crocodiles are a serious peril that needs to be insured against. While that fact on its own may not be so wild and wacky, one application of such a policy certainly is.

Back in 2011 when President Barack Obama prepared for a visit to Australia, the Northern Territory Government announced that they would insure him against crocodile attack. The policy dictated a 50,000 Australian dollar payout to the Obama family should the world leader be fatally attacked by T-Rex’s successor. It’s a small consolation, but it’s the thought that counts.

Note: The Sydney Morning Herald recently reported that Donald Trump will be making a visit to Australia if he wins re-election in November. At press, the Australian government has not purchased any further crocodile attack insurance.

Policies Being Prepared for Robot Attacks

Crazy Insurance Policies

This is one policy in the making. The rise of the machines has already started as advancements in artificial intelligence (AI) and machine learning (ML) have created an unprecedented risk, especially in the commercial sector. We’re not just talking about cybercrime folks, but all out attacks on people and property:

“When organizations place machine learning systems at the center of their businesses, they introduce the risk of failures that could lead to a data breach, brand damage, property damage, business interruption, and in some cases, bodily harm. (Harvard Business Review, April 29 2020)

The demand for an AI attack policy is not exclusive to businesses, however. TechRepublic reported on an insurance policy to protect the elderly against robot attack after Japan began to introduce robots (yes, actual robots) as assistant in senior care homes.

It looks like the old skit from Saturday Night Live back in 1995 for Old Glory “Robot Attack Insurance” may not be a laughing matter after all!


Looking for a somewhat more typical insurance policy? Contact Park Insurance today.

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