From Limbs to Legends: 8 Unusual Insurance Policies Offered by Lloyd’s of London

During the 1920s, silent film icon Ben Turpin was known for his distinctive crossed eyes, a condition called strabismus. Believing his unique look was integral to his comedic appeal, Turpin decided in 1921 to secure a $25,000 insurance policy through Lloyd’s of London, which would compensate him if his eyes ever uncrossed on their own.

This was unusual, as strabismus rarely corrects itself without surgery. However, Turpin’s primary goal wasn’t medical—it was publicity. Such quirky insurance policies have long been used as clever marketing strategies.

While Lloyd’s does handle high-risk cases, such as performers missing shoots or stunt mishaps, the company has also catered to Hollywood publicists who turned standard accident coverage into something extraordinary. (Turpin’s policy cost $106.18, equivalent to roughly $1810 today.) Explore other entertainers who insured their most valuable traits against improbable events, along with some truly bizarre policies, including one involving a mythical sea creature.

The Voice of Charlie Chaplin

Legendary silent film actor Charlie Chaplin was hesitant to embrace talking films. He delayed his first full talkie until 1940’s The Great Dictator, though his iconic Little Tramp character briefly sang in 1936’s Modern Times. Despite this, fans had a sense of Chaplin’s voice from his radio appearances. In 1929, he joined fellow stars like Douglas Fairbanks and John Barrymore on a broadcast to share “humorous anecdotes.” Chaplin insured his voice for $5000, with a $50 policy that would pay automobile sponsor Dodge Brothers if his voice failed during the program. (It never did.)

Jimmy Durante’s Iconic Nose

Comedian Jimmy Durante, famously known as “the Great Schnozzola,” owed much of his persona to his prominent nose. Early in his career, he secured a $100,000 insurance policy for this defining feature. Ironically, the policy wasn’t active during a 1954 incident where Durante injured his nose while attempting to play a piano with it.

In 2008, Lloyd’s insured the nose of Dutch winemaker Ilja Gort for 5 million euros (over $8.5 million today). The policy was crucial, as losing his sense of smell or taste would severely impact his wine-tasting profession.

The Iconic Duo: Abbott and Costello

Bud Abbott and Lou Costello, one of Hollywood’s most beloved comedy duos, often faced rumors of an impending split. In 1950, before filming Abbott and Costello Meet the Invisible Man, they secured a policy worth $250,000, payable if they separated due to disagreements, accidents, or death within five years.

The duo eventually parted ways, but it happened in 1957, two years after the policy had lapsed.

The Legendary Legs of Betty Grable

Betty Grable, a 1940s pin-up sensation, was renowned for her charm and allure, particularly her legs. Recognizing their value, 20th Century Fox opted to insure her legs for $100,000 against any mishap, later increasing the policy to $250,000. This was likely part of a broader accident insurance plan.

Lloyd’s also offered policies to protect stars from facial disfigurement, as their appearance was crucial to their careers and studio profits. These policies were informally referred to as scarface insurance.

The Beloved Shirley Temple

Shirley Temple, the iconic child star of the 1930s, captivated audiences worldwide. She also secured a unique Lloyd’s insurance policy with an unusual clause: she would receive $25,000 if she couldn’t perform her adorable roles—unless the injury resulted from intoxication or enlisting in the Army.

The Tale of a Single Grain of Rice

In 1960, Lloyd’s crafted one of their most unusual policies: insuring a single grain of rice. This wasn’t just any grain—it bore the engraved images of Queen Elizabeth II and Prince Philip, the Duke of Edinburgh, to commemorate their visit to Hong Kong. The rice was insured for $20,000 while it toured as part of an exhibition in the 1960s.

The Mystery of the Loch Ness Monster

Stories of the Loch Ness Monster, affectionately called “Nessie,” have fascinated people for centuries. Legend has it that this mysterious creature lives in Scotland’s Loch Ness, occasionally surfacing to tease onlookers. Despite photos and videos sparking curiosity, no concrete evidence has been found. This uncertainty likely prompted Lloyd’s to insure Cutty Sark in 1971, when the whiskey brand offered a 1 million pound reward ($2.4 million at the time) for Nessie’s capture, using the stunt as a clever marketing tactic.

Lloyd’s agreed to pay the reward if Nessie was at least 20 feet long and verified by experts at London’s Natural History Museum. However, no such creature was ever presented for examination.

Lloyd’s of London

Lloyd’s became so prominent in Hollywood that its rich history, tracing back to the 1600s, inspired a 1936 film titled Lloyd’s of London. Starring Tyrone Power, the movie dramatized insurance fraud during the Napoleonic Wars. Lloyd’s even insured the film for $1 million in case the actors or director Henry King became unable to work. Loretta Young, a co-star, skipped filming for Honolulu, but Madeleine Carroll’s quick replacement saved Lloyd’s from a potential payout.

Contrary to assumptions, Lloyd’s has a long history of honoring claims. They paid $1 million to Titanic victims in 1912 and $400 million for the Exxon Valdez oil spill, among other significant payouts.