Insurance markets in everything

by on June 13, 2006 at 5:59 am in Economics | Permalink

Earlier this spring…Burgess agreed to
indemnify England fan Paul Hucker for more than 1 million pounds
in case he suffers “mental trauma” resulting from the team’s
first-round games against Paraguay, Trinidad and Tobago, and
Sweden. The premium costs about $195 and is one of hundreds of
similar shelter-from-the-Sven policies his Essex-based firm has
established for England fans.

For about the same price, Burgess says he’s insured the
virginity of three women in Inverness, Scotland, who believe they
will immaculately conceive the second coming of Christ.         

“I have Scottish fans taking out mental-health policies
that pay for treatment if England wins the World Cup,” says
Burgess, who has also sold 30,000 policies to California
residents fearful of being abducted by aliens.

Here is the full story.  Thanks to John de Palma for the pointer.

W June 13, 2006 at 10:11 am

I guess if people are irrational enough to want these policies then they’re irrational enough to pay too much for them?

Comments on this entry are closed.

Previous post:

Next post: