Unconfirmed reports have been circulating that Santa's insurance coverage is in danger of being seriously curtailed or even cancelled, putting delivery of toys for Christmas 2006 in jeopardy.
An anonymous insurance industry source explained that Santa's account presents major underwriting challenges, including the following:
o Santa's North Pole home and workshop are in a very rural area, and fire protection is not adequate for the exposure. The home and shop combined are roughly 12,000 square feet (made entirely of ice) and does not contain a sprinkler system. The property is adjacent to a large body of water, increasing exposure to loss as a result of windstorm. Icy conditions also lend themselves to slip-and-fall exposures.
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