WTF! Shark attack insurance (no, really)

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chrisb
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WTF! Shark attack insurance (no, really)

Post by chrisb » Sat Apr 30, 2016 9:13 am

I thought that I had heard it all but in the latest WTF news an Insurance company for a premium of $130 a year is offering coverage of $50,000 for any surfer killed in a shark attack (source: todays Manly Daily, page 5).

Sounds like a sure-fire way for an insurance company to collect premiums knowing that will never have to pay out. They probably wouldnt insure for a person to be killed by lightning though because that is much riskier.

aaarating
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Re: WTF! Shark attack insurance (no, really)

Post by aaarating » Sun May 01, 2016 2:00 pm

Like all insurance policies theres probably a heap of conditional exclusions like not being in water before dawn/after dusk, no surfing near baitfish schools, not pissing in wetsuit and it doesn't cover attack from whites, tigers, whalers and bulls. Just the ferocious Port Jackson.

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foamy
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Re: WTF! Shark attack insurance (no, really)

Post by foamy » Sun May 01, 2016 6:28 pm

In event of a shark attack, I reckon you should be able to at least claim the ding repair.

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Karlos
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Re: WTF! Shark attack insurance (no, really)

Post by Karlos » Sun May 01, 2016 6:45 pm

Apparently the policy will provide surfers with "peace of mind" and that "makes a big difference".

To what I really have no idea.

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chrisb
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Re: WTF! Shark attack insurance (no, really)

Post by chrisb » Mon May 02, 2016 7:37 am

My reading is that the payment is made only if you are killed by a shark. Horrific injuries don't qualify.

Let's assume that there are just 100,000 surfers in Australia who pay the $130 premium then that's $13,000,000 revenue. How many fatal shark attacks were there last year in Australia, 1, 2? Even if it was 10 the insurance company scores a $12,500,000 surplus. Good little earner for them.

..........................BTW, some guy was in fact killed by lightning yesterday.

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