1. What are the largest insurance company payouts in history?
In 2010, the eruption of an Icelandic volcano left 10 million people stranded for several weeks and resulted in approximately $3.4 billion in compensation. The tragedy of 9/11 and its associated loss of life and property resulted in $40 billion in payouts.
Outrageous payouts to individuals include $1.5 million to repair a sports car belonging to the British actor Rowan Atkinson; $7.75 million for a slip on the ice that resulted in serious complications for the victim; and $37 million to a teenage girl who was paralyzed in a head-on collision.
2. What is the most expensive life insurance policy ever recorded?
An anonymous Silicon Valley billionaire recently purchased a life insurance policy worth $201 million dollars. Before that music mogul, David Geffen, held the most expensive policy, valued at $100 million.
3. Which employer offers healthcare for parents of workers?
Many Americans get employer-sponsored healthcare — for the worker, or the worker and their spouse, or the worker, their spouse and their children. That’s a given. In China, though, Starbucks has taken employer-sponsored health insurance a step further, offering to cover the parents of workers.
It’s limited to workers who have been with the company for at least two years, and it provides critical-illness coverage for some 30 illnesses to parents who are younger than 75 and who live in China. It seems like a smart business move in a country where many workers feel much responsibility to care for their parents, and it can make Starbucks a more competitive employer there. It’s not unthinkable that new kinds of insurance will be available to everyone. We didn’t always have pet insurance, for example.