Business insurance companies capitalised big on the marriage of Prince William to Kate Middleton’s wedding by coming up with several innovative products.
While the royal wedding had been billed as the ‘wedding of the decade’ to Brits and those around the world, commercial insurance providers certainly turned it into the business opportunity of the decade. As the UK was gripped with wedding fever, insurers came forward with free covers and one-time public liability covers.
In order to commemorate the occasion, one insurer announced free policies as extensions to any new executive policy or executive home through June. Sterling Insurance’s free cover included a re-arrangement cover of £15,000 in the event of a postponement and cancellation cover of £20,000.
The flowers and cake for the wedding would have up to £5,000 in cover, while any cars or other transport would receive cover for as much as £3,000 under the free policies. Sterlings official David Sweeney commented that the thoroughly researched and detailed product can also be used as cover towards individual events during a wedding.
In the event that everything doesn’t turn out as planned, Mr Sweeney commented on the insurance firm’s website that all these separate covers will help in aiding a couple’s special occasion does not suffer from financial blight.
Professional indemnity insurance firms would also swoop down to the rescue if the wedding pictures of the royal couple turned out less than exemplary. The insurance cover also included the costs of videoing or photographing the wedding again by providing as much as £3,500 in cover. Suppliers were offered up to £10,000 in cover, while £1,500 was offered for wedding stationery and up to £22.5 million was available for public liability, according to the website.