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OFF BEAT: Chinese have bawling babies, awkward honeymoons covered


Anyone who thinks the insurance industry lacks innovation should take a look at China.

From babies to brides, Chinese insurers are rolling out some of the most “interesting” insurance products in the business, Reuters reports. Such policies may not bring in huge premium levels but certainly garner healthy doses of publicity and media coverage.

“Naughty Child Insurance” could cover damages caused by tantrum-throwing infant, while “Accidental Pregnancy Before Honeymoon” sounds, well, pretty self-explanatory, but could even cover the cost of having to cancel a honeymoon unexpectedly.

China’s Ping An Insurance Group Co. of China Ltd., the world’s second-largest life insurer, has offered such coverage but says it no longer offers pregnancy, marriage or singles insurance.

For that potentially boisterous tot, People’s Insurance Co. of China Group will cover “mischievous and destructive” behavior at 44 yuan ($7) for 12 months of coverage up to 100,000 yuan ($16,270).

If you suffered heartbreak this summer when your team was eliminated from the World Cup, Chinese insurers Ancheng Property & Casualty Insurance Co. Ltd. and ZhongAn Insurance have you covered. ZhongAn also sold policies covering over-drinking and attacks by soccer hooligans.

Some Western insurers have even jumped on board. If you didn’t see a full moon during last-year’s midautumn festival due to bad weather, Germany’s Allianz S.E. together with China’s Taobao Insurance could pay out between 50 and 188 yuan ($8 and $31).

Some policies, however, are deemed unacceptable. Policies from Ping An and PICC designed to pay out if smog measurements reached certain levels were nixed by the China Insurance Regulatory Commission.