Even Santa Has Risk-Coverage Concerns

NU Online News Service, Dec. 23, 12:01 p.m. EST

As we scramble around to perform our last-minute shopping for this holiday season and look forward to happy tidings from Old St. Nick, even Santa has a few liability concerns that he needs to consider as he readies his sleigh.

Experts at Aon Risk Solutions put together their top 10 list of risks that Santa must face as he prepares for his nocturnal global visit and leaves sweet sugarplums dancing in the heads of children—or even those young at heart.

Santa should keep the following in mind now and throughout the year:

  • Workers’ compensation for repetitive stress claims made by elves on Santa’s toy assembly line.
  • Valuable paper coverage—Santa would be lost without his list (especially now that it’s already been checked twice).
  • Kidnap and ransom—naughty boys and girls will stop at nothing to get what they want for Christmas.
  • Supply-chain interruption—North Pole weather is unpredictable and even Santa and his suppliers are not immune to the impact of tighter regulations on toy safety.
  • Bed bugs—with his level of travel, unwelcomed guests are a major consideration.
  • Employment-practices liability, thanks to disgruntled elves.
  • Incidents involving Santa’s pet reindeer Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donner, Blitzen and Rudolph.
  • Product liability for toys made and delivered.
  • Weather—Santa travels from one extreme to another in a very short time with no guarantee of clear skies.
  • Aviation third-party risk—Santa’s sled and reindeer.

Last year, the Chicago-based insurance broker estimated that it would cost around $39 million to insure Santa.

Aon did not supply a figure for renewal this year, but keeping with the season (and market trend) you could expect he would see flat to minus-5 percent reduction on average.

Comments

Resource Center

View All »

Guide: 5 Steps to Selling Cyber

Cyber risk and data security is on the agenda of every business owner and executive....

Citation Correlation

Do rigger and signalperson qualifications correlate with the cause of crane and rigging accidents? ...

Complete Guide to Electronic Signatures in Property & Casualty Insurance...

In property and casualty insurance, closing new business quickly is key. Learn how to leverage...

INSTANT ACCESS: Complimentary Sales Closer Questionnaires

Help property owners or managers compare your commercial residential property insurance coverage vs. the competition....

Determining Vacant Property Perils and Valuations

Are your clients fully covered for Vacant Properties? In this economic climate, your insureds may...

Risk Management for Law Firms

This package of 3 concise risk management articles offers straightforward content and practical suggestions law...

Guide: Top 15 E&O Risks-And How To Avoid Them

Accidents happen. But when it's an errors and omissions oversight, that accident can open your...

We'll Show You How to Reach Your Sales Goals

Whether you work alone or have a team of agents working for you, we can...

Get The Most From Your Book Of Business

Turn your existing book into an exclusive program or roll your book. Learn about the...

Who Pays When There’s a Pollution Claim on an Auto...

The Pollution Liability - Broadened Coverage of Covered Auto (CA 99 48 03 06) endorsement...

Risk Management Report eNewsletter

Identify problems involving emerging risks, reinsurance, and business interruption with help from Risk Management Report - FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.