Nose Insurance

Today another example of the innovative and unusual side of our industry comes from across the pond at Lloyd’s. Word has it that a Dutch wine maker has insured his nose for ┚ ¬5 million ($7.8 million) to cover against any incident that could threaten his livelihood. The individual, owner of Chateau de La Garde in Bordeaux and producer of Tulipe Wines, recognized that his nose is the most important asset in his profession which relies on a good sense of smell to guarantee the constant quality of wines. The policy is co-insured by Watkins Syndicate and Allianz Nederland. Lloyd’s notes that nose insurance is not just restricted to wine buffs. For example, Watkins Syndicate is currently working on a policy with a U.S. perfume consultant who develops new fragrances for perfume houses. As the lead underwriter himself commented, these insurance policies are not to be sniffed at…  

Leave a Reply

Your email address will not be published. Required fields are marked *