Legs, Noses, and the Loch Ness Monster: 8 Bizarre Lloyd’s of London Insurance Policies

In the 1920s, silent film star Ben Turpin had a striking physical characteristic: strabismus, or crossed eyes. His appearance was so familiar to filmgoers and so endemic to his comedic performances (or so he believed) that in 1921 Turpin opted to take out an insurance policy arranged by insurance marketplace Lloyd’s of London that would pay him $25,000 in the event his condition spontaneously resolved.

This was perplexing, as strabismus doesn’t typically fix itself—surgical intervention is often necessary. But Turpin wasn’t really concerned with that. Such irreverent insurance policies have been used for decades as publicity tools.

While Lloyd’s does take on riskier propositions—like performers failing to appear on sets or stunts going awry—the firm often indulged Hollywood press agents who liked to spin conventional accident insurance into something novel. (Turpin’s coverage cost him $106.18, or about $1810 today.) Take a look at other performers who have had Lloyd’s insure their most prized attributes against some unlikely consequences, as well as a couple of policies that defy categorization. (A sea monster, for one.)

Charlie Chaplin’s Voice

Silent film star Charlie Chaplin long resisted the switch to talkies. He didn’t make one until 1940’s The Great Dictator, though his Little Tramp character sang in 1936’s Modern Times. Yet audiences still had a pretty good idea of what Chaplin’s speaking voice sounded like. He enjoyed making the occasional radio program. The actor appeared on a 1929 broadcast with other films stars, including Douglas Fairbanks and John Barrymore, in which he was to deliver “humorous anecdotes,” and he insured his voice for $5000. The policy (which cost $50) would be paid out in full to automobile maker and program sponsor Dodge Brothers if Chaplin’s voice gave out. (It didn’t.)

Jimmy Durante’s Nose

Comedian Jimmy Durante was nicknamed “the Great Schnozzola” for his oversized proboscis, a trait he considered essential to his image. The actor took out a $100,000 policy on his nose early in his career. Ironically, the policy was no longer in play when he actually needed it: In 1954, Durante was attempting to play a piano with his nose when the keyboard lid fell on it.

Lloyd’s later insured the nose of Dutch winemaker and taster Ilja Gort for 5 million euros in 2008 (more than $8.5 million today). If Gort loses his senses of smell or taste, it would have a radical impact on his business.

Abbott and Costello’s Partnership

Bud Abbott and Lou Costello were one of the great cinematic comic teams of midcentury Hollywood. Like with any talented duo, there were perpetual rumors they were about to split. In 1950, just before beginning the film Abbott and Costello Meet the Invisible Man, the two took out a policy in which they’d be paid $250,000 in the event of their de-coupling. A disagreement, accident, or death in the proceeding five years would all count.

The two did part ways—but it came in 1957, two years following the expiration of the policy.

Betty Grable’s Legs

Grable was a pin-up star of the 1940s who exuded a lot of sex appeal—so much that studio 20th Century Fox opted to take out a $100,000 policy against any misadventure involving her legs. (The policy was later upped to $250,000.) As with other body parts, it was likely part of more comprehensive accident insurance.

Lloyd’s was also in the business of insuring against any disfigurement to a star’s face on the premise that their looks were a primary source of income and would cause studio losses. Such policies were colloquially if indelicately known as scarface insurance.

Shirley Temple

Shirley Temple drew audiences to theaters in the 1930s as the original child star. She also garnered a conventional publicity-fed Lloyd’s policy with a highly unconventional stipulation. Should Temple be unable to perform her duties as an adorable moppet, she would be paid $25,000—but not if, in the language of the policy, she was injured owing to intoxication or because she joined the Army.

A Single Grain of Rice

In 1960, Lloyd’s issued possibly their smallest policy yet: a single grain of rice. This was no ordinary carbohydrate but one that featured the likenesses of Queen Elizabeth II and Prince Philip, the Duke of Edinburgh. The engraved rice art was done to commemorate a visit to Hong Kong from the royal pair. Lloyd’s insured it for $20,000 while it traveled on exhibit in the 1960s.

The Loch Ness Monster

Tales of the Loch Ness Monster, or “Nessie,” have persisted throughout the centuries. According to legend, the beast dwells in Scotland’s Loch Ness, taunting sightseers with an occasional appearance above the water surface. While photos and video sometimes stir interest, there has yet to be definitive proof, which is probably why Lloyd’s decided to underwrite Cutty Sark. In 1971, the whiskey manufacturer offered a reward of 1 million pounds ($2.4 million at the time) for the capture of the beast and turned to Lloyd’s for coverage. (The benefit, of course, was publicity for their whiskey.)

The company agreed to pay out providing Nessie was at least 20 feet in length and confirmed to be a valid specimen by experts at the Natural History Museum in London. No such creature was ever offered up for inspection.

Lloyd’s of London

Lloyd’s did such a brisk business in Hollywood that eventually the industry took note of the company’s storied history, which dates back to the 1600s. A feature film titled Lloyd’s of London was released in 1936 and stars Tyrone Power in an exciting tale of insurance fraud during the Napoleonic Wars. Lloyd’s the company insured Lloyd’s the movie for $1 million in the event the actors or director Henry King grew incapacitated during filming. Co-star Loretta Young never made it to set, preferring to set course for Honolulu instead. Lloyd’s might have had to pay for the delay if not for Madeleine Carroll, who quickly stepped in to replace her.

Lest you think Lloyd’s never has to settle up, they’ve had a fairly rich history of paying on their claims. The company distributed $1 million to victims of the Titanic in 1912 and $400 million for the Exxon Valdez oil spill, among other high-ticket losses.

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