Iraq terrorism cover

Well who said there wasn’t a market for anything you could imagine?

The Iraq Insurance Company, a state-owned group, has sold about 200 individual terrorism policies in the last year, and is now negotiating with several government ministries and private companies for group policies that would cover thousands of employees.

The idea of insuring ordinary people in what may be the most violent place on earth came from Abbas Shaheed al-Taiee, an executive at the Iraq Insurance Company.

“It is a kind of gift to the Iraqi people,” said Mr. Shaheed, 53, a big, heavyset man with terribly serious eyes and a reputation as a master salesman. “We have expanded the principles of life insurance to cover everything that happens in Iraq.”

Amazingly, the company has yet to pay out on a single claim.

Source: NY Times

You have to love the quote too from Robert Hunter, of the Consumer Federation of America: “In America, you could probably get $100,000 worth of life insurance coverage for maybe $125 to $150,” especially a healthy 23-year-old, he said. “And that would cover you no matter how you died.”  What planet, Mr Hunter, what planet?