Taobao had been selling policies against a split between Taylor Swift and Tom Hiddleston.
The massive Chinese marketplace, Taobao, was selling break-up insurance against a split in the relationship between Tom Hiddleston and Taylor Swift. However, those sales have now been shut down.
Alibaba, the company that owns Taobao, put a stop to the sale of the celebrity insurance policies.
Taobao sold the break-up insurance policies just in case the Hiddleswift relationship isn’t forever. The coverage promised double the purchase price in payment if the celebrity couple were ever to call it quits. When Alibaba got wind of what Taobao was doing, it stepped in and shut it down. The reason is that it was interpreted as being a form of gambling, which is not legal in mainland China.
The break-up insurance is no longer available and arrangements are being made for some reimbursements.
This may sound as though it was a strange kind of coverage. However, this celebrity insurance policy was odd neither for Hollywood stars nor the Chinese insurance marketplace.
That said, odd insurance policies are normally purchased by the celebrities themselves and not by other people. In fact, it has become commonplace for celebrities to cover parts of their body that are central to their success. Everything from vocal cords to perfectly shaped legs have had coverage in the superstar world.
In fact, Taylor Swift, herself, has insurance on her legs for $40 million. She took out the coverage in March 2015. Slightly higher on the body, Jennifer Lopez has purchased $27 million in coverage for her famous backside.
In terms of vocal cord coverage, Bruce Springsteen is among the most well known policyholders. The Boss has $6 million in coverage for them. Perhaps an even more talked-about body part in the singing world is Dolly Parton’s chest, which is covered for $600,000. When you’re known for your smile, not your voice, then it’s the teeth that get the coverage. In Julia Roberts’s case, that coverage is for $30 million.
With such unique types of policy, it takes something truly unique, like the Hiddleswift break-up insurance, to draw the spotlight.