Filed Under:Risk Management, Loss Control

Lockton Breaks Down the Costs and Coverages for Insuring Santa's Workshop

What risks might the CEO of K. Kringle Manufacturing—Santa Claus—want to insure? Insurance-broker Lockton provides an in-depth look at the exposures and coverages involved with manufacturing and delivering millions of toys for good girls and boys.  

Coverages Santa may consider purchasing include exotic animal coverage for his reindeer (a $1 million-limit policy for a premium of $16,000), ocean marine coverage to cover the toys in transit (a $1 billion-limit policy for a premium of $100,000), an employment practices liability policy to cover the potential for discrimination cases from hiring only elves that have certain physical characteristics, such as short stature, pointy ears, etc. (a $1 million-limit policy for a premium of $50,000), and a Lloyd’s policy to insure Santa’s famous beard.

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