Insuring a Popular Actor: Good or Bad Idea?

Most of us have seen some very "unique" insurance policies made; actors insuring their chest hair, insuring their legs, or insuring their own "parts". All these actors and actresses insured, what they believed, their most important asset for being on television.

Whether an insurance company should accept such a policy is the question. Is it a bad idea to insure a popular actor, whatever the policy may be?

Personally, I believe it is a brilliant business move. How many insurance companies would be able to say that they are responsible for a popular actor's insurance? First off, most of the policies they make never permit a claim from them in the future, because they are so famous for whatever they insured, there's no need to put in a claim. Also, the amount of money that an insurance company would make on a popular actor or actress is much more significant than a middle or low class citizen. The amount of money they usually insure for would cause the insurance company to rake in on some very substantial profits. It would increase business, and increase profits.

Some people, however, believe it would be a bad idea. Although I disagree with it, I do understand what they believe. Why would an insurance company insure a popular actor? They would insure something that is bound to go at some point, like their hair color, their voice, or a body part that is prone to aging. It may seem like a bad idea, because they would put in a claim once there asset (whatever they insured) is useless. However, I believe that the money the insurance company makes from the actor or actress, and the money they make from the new business from customers who came to this insurance company, knowing that this actor or actress is also using this company, would exceed the cost if a claim was even put in. It all depends on how aggressive and risky the insurance company is.

If the insurance company is willing to risk money to make even more money, then it could be a great idea. Looking at it, it seems to have very low risk dealing with a popular actor or actress. Think about it as an investment. Generally, the more money you invest in something, the more money you will make. If an insurance company is willing to accept the risk that comes with insuring a popular actor or actress, they will find out that it will pay off with bigger profits than other ordinary customers.

Not only is it a good idea to insure a popular actor or actress, it is a great idea. The investment in a high profile celebrity would bring more business to that insurance company, along with more profits. Most of us have seen some very "unique" insurance policies made; actors insuring their chest hair, insuring their legs, or insuring their own "parts". All these actors and actresses insured, what they believed, their most important asset for being on television.

Whether an insurance company should accept such a policy is the question. Is it a bad idea to insure a popular actor, whatever the policy may be?

Personally, I believe it is a brilliant business move. How many insurance companies would be able to say that they are responsible for a popular actor's insurance? First off, most of the policies they make never permit a claim from them in the future, because they are so famous for whatever they insured, there's no need to put in a claim. Also, the amount of money that an insurance company would make on a popular actor or actress is much more significant than a middle or low class citizen. The amount of money they usually insure for would cause the insurance company to rake in on some very substantial profits. It would increase business, and increase profits.

Some people, however, believe it would be a bad idea. Although I disagree with it, I do understand what they believe. Why would an insurance company insure a popular actor? They would insure something that is bound to go at some point, like their hair color, their voice, or a body part that is prone to aging. It may seem like a bad idea, because they would put in a claim once there asset (whatever they insured) is useless. However, I believe that the money the insurance company makes from the actor or actress, and the money they make from the new business from customers who came to this insurance company, knowing that this actor or actress is also using this company, would exceed the cost if a claim was even put in. It all depends on how aggressive and risky the insurance company is.
If the insurance company is willing to risk money to make even more money, then it could be a great idea. Looking at it, it seems to have very low risk dealing with a popular actor or actress. Think about it as an investment. Generally, the more money you invest in something, the more money you will make. If an insurance company is willing to accept the risk that comes with insuring a popular actor or actress, they will find out that it will pay off with bigger profits than other ordinary customers.

Not only is it a good idea to insure a popular actor or actress, it is a great idea. The investment in a high profile celebrity would bring more business to that insurance company, along with more profits.
 

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