Insuring body parts

As long as a person is willing to pay the required premium, anyone can insure a body part of their choice. The 40 members of the Derbyshire Whiskers Club insured their beards against fire and theft for $32 each. This is called speciality insurance and before an entertainment company or athletic club pays any high premium for mega income-producing stars or athletes, they would have obtained the maximum possible insurance via standard life and disability cover. Your finger that moves the trackpad on your laptop could be insured by you, however, buying disability in this instance would be more economical.

It is the norm for entertainment companies and athletic clubs to obtain speciality insurance for huge cash-earning celebrities, as well as high-income athletes. Real Madrid renewed the insurance policy for Cristiano Ronaldo, valuing his legs at a whopping 103 million Euros against serious injury. Goalkeeper and Real Madrid captain Iker Casillas has his hands insured for 7 million Euros. Certain speciality insurance companies will insure the insured’s whole body but exclude the part that is most at risk. Factors which are taken into account are yearly income, type of sport, age and injury history.

Ahead of the 2014 Soccer World Cup Germany’s squad was valued at an insurable amount of 795 million Euros. This research was produced by the Centre for Economic and Business Research for Lloyds. The amount is calculated as the discounted sum of players’ future earnings, both from endorsements, salaries and bonuses.

One of the earliest body part policies was taken out by Ben Turpin. He worked in vaudeville, burlesque and circuses in the 1920s. Turpin had a distinctive appearance, with a small wiry frame, a brush mustache and crossed eyes. He insured his eyes and would have collected $20, 000 if his eyes had gone straight. A man most remembered for his legendary drinking talents, Aussie cricketer Merv Hughes insured his handle-bar mustache for $370, 000 during his cricketing days as a member of the Australian national team. The Welsh baritone Tom Jones was rumoured to have insured his chest hair for $7 million. The geriatric crooner still has the power to make the ladies swoon and he apparently considers his luxurious pelt an essential aspect of his sex appeal.

Keith Richards is an English musician, singer and songwriter and one of the original members of the English rock band, the Rolling Stones. Rolling Stone magazine credited Richards for “rock’s greatest single body of riffs” on guitar and ranked him 4th on its list of 100 best guitarists. His hands are insured for $1.6 million.

Egon Ronay was a Hungarian-born food critic who wrote and published a famous series of guides to British and Irish restaurants and hotels in the 1950s and 1960s. These guidebooks are credited with raising the quality of British cuisine offered in public eating places. Ronay also championed foreign cuisine for British diners. He insured his influential taste buds for £250,000. (http://en.wikipedia.org/wiki/Egon_Ronay)

Sir Thomas Jones Woodward known by his stage name Tom Jones is a Welsh singer. He became one of the most popular vocalists to emerge from the mid-1960s. Tom Jones had his chest hair insured for £3.5 million in 2008. The geriatric crooner still has the power to make the ladies swoon and apparently considers his luxurious pelt an essential aspect of his sex appeal.

Ornella Muti was born in Rome. She is mostly known to the French for appearing in a television commercial of Giovanni Panzani Pasta. She was voted “The Most Beautiful Woman in the World” in 1994 by a worldwide poll of the magazine “Class”. She regards her breasts as her best asset and has insured them for $350,000.

James Francis “Jimmy” Durante was an American singer pianist, comedian and actor. His distinctive clipped gravelly speech, Comic language butchery, jazz-influenced songs and large nose helped make him one of America’s most familiar and popular personalities of the 1920s through the 1970s. His jokes about his nose included referring to it as a Schnozzola and this word became his nickname. His Schnozzola as he referred to it was insured for $442,000.

Angela Mount has unparalleled experience in the wine retail business. She is widely credited with revolutionising wine on the high street. She has been named as one of the top most influential people in the Wine Industry by The Drinks Business. Angela’s taste buds were famously insured for £10 million by former Somerfield bosses. Somerfield (originally Gateway) was a chain of small to medium-sized supermarkets operating in the United Kingdom.

Kenneth Arthur “Ken” Dodd, OBE, is an English comedian, singer, song-writer and actor. His trademark is his frizzy hair and protruding teeth. At the age of seven, he was dared by his school friends to ride his bike with his eyes shut. He accepted the dare, crashed, and received facial injuries which resulted in his distinctive buck teeth. He insured his trademark buck teeth for £10.6 million. (http://en.wikipedia.org/wiki/Ken_Dodd).

Robyn Rihanna Fenty – a Barbadian recording artist has an estimated net worth of $90 million. She has insured her legs for $1 million. Michael Ryan Flatley is an Irish-American dancer and became internationally known for Irish dance shows Riverdance and Lord of the Dance. In May 1989 Flatley set a Guinness Book world record for tapping speed at 28 taps per second. In 1998 Flatley broke his own record for tapping speed by achieving 35 taps per second, as well as a Guiness Book recognition in both 1999 and 2000 being the highest paid dancer earning $1.6 million per week and having the highest insurance policy on a dancer’s legs of $40 million. (http://en.wikipedia.org/wiki/Michael_Flatley)