We don't write much about the Property and Casualty side of the insurance business here. But once in a while, it can be pretty interesting (I'm sure there are folks who believe that it's interesting more often than "once in a while," but they can get their own blog).
Special Event insurance is just that: coverage to protect one from a sudden loss during some unusual activity or promotion. Think "$1 million Hole In One Contest." That kind of thing.
Not being much of a football afficianado myself (although all three of my girls were glued to the OSU/Texas game this past weekend), I was unaware that "Da Bears" had shut out the Green Bay Packers in the teams' season opener. As disappointing as this must have been for the "Cheeseheads," it could have been catastrophic for one Chicagoland merchant:
World Furniture Mall "promised that if the Bears shut out the Packers in the season opener at Lambeau Field in Green Bay, Labor Day weekend shoppers would get their furniture free." Which, as mentioned, they did.
Store owner Randy Gonigam stood by his promise, and stood to lose almost $300,000 to boot. Fortunately, he had purchased a Special Events policy "just in case."
Good on him, and Congrats to Da Bears.
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