Crazy Insurance Policies – stunt elephants, the Pope, and Cold War Olympics
We’ve recently celebrated the 50th anniversary of the Apollo 11 moon landing. Neil Armstrong himself said there was only a 50/50 chance of the landing being successful, let alone the moon walk. He couldn’t get insurance at all. The few that offered it were life insurance companies that wanted to do it for publicity. Nobody associated with Armstrong thought that was a good thing for his estate or family.
The incredible history of insurance – war, natural catastrophes and space travel
War on land is also uninsurable. We insure it on sea or in the air, but not on land. The reason for that? Well, it’s the sheer scale. I mean, another world war would destroy the planet. There isn’t enough capacity in the insurance market. Even the conflicts that have been with us for decades, they can’t get war insurance, although in the middle east some countries have created a pool of money to cover limited damage.