Interesting and unusual risks

41 Pages·2013·1.25 MB·English

by  Welz, Eric

Interesting and unusual
risks
Client seminar – April 2013

Eric Welz
Risk
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Unusual risks
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Some unusual risks
 Insure your smile for $10 million

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Wedding insurance
 Cost of wedding can easily exceed R100,000

 Cancellation because of extreme weather, missing caterer

 “Change of heart” – bride/groom left standing at altar

 Rider: Cost of professional counselling to mend a broken heart

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Unusual Life risks
 Cover the armed forces – eg South Korean army – majority of deaths
are suicides (before Kim launches nuclear armageddon)

 SANDF – majority of deaths are HIV/AIDS related

 Cover security personnel in Afghanistan and Iraq

 Astronaut insurance – consider past crashes

 Extreme sports/hazardous pursuits

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Aviation risks
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Flying – when to panic…
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Aviation risk by type of aircraft
Flat Extra
Fatal R e l a t ive r a te per hour 5 0 100 200 500 800 1000
Type of aircraft accident rate Extra Mort flight time hr/yr hr/yr hr/yr hr/yr hr/yr hr/yr
Fixed wing 1.18 99% 0.000012 0 .59 1 .18 2 .37 5 .92 9 .48 1 1.85
Glider 4.69 391% 0.000047 2 .34 4 .69 9 .38 2 3.45 3 7.52 4 6.89
Helicopter 1.10 92% 0.000011 0 .55 1 .10 2 .19 5 .48 8 .77 1 0.96
Light sport / Lighter than air 2.46 205% 0.000025 1 .23 2 .46 4 .91 1 2.28 1 9.64 2 4.56
Other 1.09 91% 0.000011 0 .54 1 .09 2 .17 5 .44 8 .70 1 0.87
Grand Total 1.20 100% 0.000012 0 .60 1 .20 2 .40 5 .99 9 .58 1 1.98
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