Insurers are known for helping us prepare for Mother Nature’s surprises, but did you know that insurers also have to evaluate the risks of Mother Monster, aka Lady Gaga–and other celebrities?
MarketWatch reports that Gaga, due to headline the Super Bowl halftime show on February 5, wants to perform on the top of the dome that covers the NRG Stadium in Houston.
Event organizers are working on how to keep the performer safe as well as securing insurance for the spectacle, according to the New York Post. Reports suggest such a stunt could cost over $100,000 to insure.
Specialist insurers (see our earlier post here) have a long history of protecting the stars — and the companies that promote and sponsor them — by providing appearance/event cancellation coverage, celebrity body parts insurance, and death and disgrace policies.
The Lloyd’s insurance market has insured a long line of celebrities and celebrity body parts. For example, Rolling Stones guitarist Keith Richards’ hands were insured for $1.6 million and Marlene Dietrich insured her voice for $1 million.
Insurance Insider recently reported that the death of Star Wars actress Carrie Fisher is likely to trigger a $50 million “contract protection” policy underwritten in the Lloyd’s market that would cover Disney in the event that Fisher was unable to fulfil her obligations to act in the new Star Wars films.
Each celebrity risk profile comes with its own unique set of risks, according to the individual’s occupation, health, lifestyle and associated risks.
So, next time you go to see your favorite band, sports star or top chef perform, just think: there’s probably celebrity insurance for that.