New York City’s own, multimedia pop artist, and my personal friend, Chad Love-Lieberman has gone ahead and taken out an insurance policy on his…ahem…testicles! The MoMA accredited artist and owner of art4love.com has taken out a policy for $1.4 million dollars with Lloyd’s of London. The policy costs Lieberman $800 a month.
When I asked Chad why he was doing this, the answer strangely made sense to me. ”Look, I am a pop artist. I follow the trends in media. I see what these celebrities are doing, and it just made sense to do. Being a successful pop artist is more than just what I tangibly create on canvas but just as important what I project to society. I wanted to protect one of the most important parts of my body. God forbid something happened to one of them.”
Love-Lieberman went on to add, “For some reason, I have always had random girls grabbing at my jewels. I needed to protect them to make sure they worked when I finally meet the right girl. There is a future artist swimming around in there!”
It is actually a common practice that entertainment companies, television networks and sports teams will supply their stars with disability insurance which covers any job stopping injury. To get insurance for a particular body part, you will need to go to what is known as the “surplus lines” market. The most famous of these being Lloyd’s of London. Lloyd’s has been writing these policies for 100+ years now. In 2009, almost 22 billion British pounds of gross premium was transacted in Lloyd’s. They achieved a pre-tax profit of over 3.8 billion British Pounds.
But you don’t have to be a celebrity to take out a policy. Anyone can insure something as long as they’re willing to pay the high premiums. But the fact is, that it is celebrities that are taking out these polices. Rihanna ($1 million) , Heidi Klum ($2.2 million) , and Mariah Carey (a whopping $1 billion) have all insured their legs. Dolly Parton has $300,000 policies for each of her giant boobs. Rod Stewart and Bruce Springsteen each have $6 million policies on their singing voices. And Gene Simmons has a policy protecting what is perhaps the world’s most famous tongue. ($1 million)
As strange as Chad Love’s policy seems to be, there are a few policies written that are as equally strange. Shirley MacLaine has a $25 million policy protecting against alien abduction. A British male stripper named Frankie Jakeman took out a $1.6 million policy on his
penis. And Van Halen lead singer, David Lee Roth, made headlines when it was released that he had his sperm insured. The policy was thought to protect against a potential paternity suit should he inadvertently impregnate a groupie. (WOW…seriously?!?!)
So, maybe what Chad is doing falls right in line with what many celebrities are doing. Maybe it really isn’t that strange or shocking. One thing is for sure though. Chad Love Lieberman is not just nuts. His art is nuts. And now, he has insured his nuts.