Even the Royal Wedding has Insurance

Prince William and Kate MiddletonWith so much gloomy, depressing news broadcast on a daily basis, personally I don't see there anything wrong with getting caught up in a spectacular, loving event.  This kind of pomp and circumstance never happens in the United States, and I have loved watching the events surrounding this royal marriage.

But with millions upon million of people expected to turn out for this monumental occasion, precautions were most certainly taken, including insurance! Lloyd's of London, a worldwide insurance market notorious for providing insurance policies for odd things; i.e. alien abduction insurance, insurance policies to protect people from falling satellite pieces, etc., began to offer insurance for royal wedding celebratory "street parties" shortly before the event.

Lloyd's website states that "it is estimated that as many as two million people will hold their own street parties to celebrate; a British tradition that dates back almost 100 years."

“If you want to run a street party in the UK, apart from a few exceptions, most councils and local authorities will require you to have five to ten million pounds worth of public liability insurance to be able to close the road,” said Jon Wilkinson, Chief Operating Officer at WorldWide Special Risks, a Lloyd’s coverholder. “When you are just running a small street party, that can be quite expensive. In advance of the Royal Wedding, we created a special street party policy. It’s a low value, niche product.”

So, if your royal wedding party experiences an electricity mishap, BBQ fire, gets rained out or someone trips and breaks an ankle, you may be covered if you purchased this insurance!

Apparently the company has experience a huge demand for the coverage since the date of the wedding was announced.

Will you be holding your own royal wedding party?