“End of the world” coverage
My good friend Phil has always said that a very smart insurer could make a killing by offering “End of the World” coverage. The idea is that people would buy insurance to cover themselves from the peril of Armageddon and the “End of the World”. In case you weren’t aware, insurance policies as a general rule specifically exclude the peril of war (there are some exceptions). In the event of a claim, people could send in their proofs of loss to a mailbox or post office box for review (and prompt payment, ostensibly).
If any underwriter at Lloyds of London thinks this is a good idea for a new product and can get 100% subscription, call me.