Market for body parts insurance 'limited'
Published On 5 March 2008
It is rare for an everyday person to need to insure a body part and the market for such cover is "limited".The British Insurance Brokers' Association (BIBA) has said that requests for this sort of cover are "relatively uncommon" as not many people have a livelihood which is reliant on a particular part of their body.
Peter Staddon, head of technical services, noted that there are instances where such cover could be useful, such as for carpenters who rely on their hands to earn a living.
However, he asserted that this type of insurance is more likely to be needed by celebrities, such as professional footballers.
Mr Staddon commented: "What this type of product does is [cover you for] scarring and disfigurement. So if you think of a celebrity who is in the public eye obviously they would [insure body parts] because that's where their money is. It's sort of trade mark for people. Think of the supermodel Naomi Campbell - obviously her body is her trade.
"If you think of somebody like a carpenter or a sculptor or a painter - then one could see why [they might want to take out insurance]. But again, like most things it's a very limited market. You'd need to go to a specialist insurer."
