Alien Abduction Insurance
Every year around autumn, we at Leader’s Edge let loose and report on some of the spookier sides of the insurance industry.
Back in 2019, we spoke with commercial insurance brokers on protecting haunted house attractions. Last year, we interviewed a paranormal investigator and learned about the lack of coverage options American ghost detectives have to protect against agitated spirits. Not to be out done, this year we’re bringing you an even more niche coverage. In fact, this policy’s risks are not of this world.
Mike St. Lawrence has been selling alien abduction insurance for 34 years. You read that right. The 73-year-old who lives in Altamonte Springs, Florida, just outside of Orlando, walks a thin line between humor and conspiracy while selling his $10 million alien abduction insurance policy for one simple payment of $24.95. Since the spirit moved us, we called Mr. St. Lawrence to ask him a few questions about what models he uses to calculate his policy’s premium, how many claims he has filled, and if he has ever been to the secret Nevada base known as Area 51.
One was a cab driver in New York. He’d been telling his friends that he was abducted his whole life. So, when he heard about what I was doing, he called me on the phone and told me his story. And I said, well, I’ll sell the policy to you. I want you to understand that [the settlement] it’s $1 a year for 10 million years.
There was another gentleman also from New York, he was a conductor on the trains up there. He sent me a claim form and we originally didn’t approve it because the polaroid picture he sent was over-exposed. You couldn’t see anything but darkness. On one of the margins, was written ‘sorry, but the lighting was really bad inside the UFO.’ To me that was genius on his part to do that. He deserves $1 a year for sure. About two years later, I got a phone call and the voice said, ‘You owe me $10 million.’ I started sending his $10 million the year after that. I normally get lost in payment claims, but sometimes I send them like $20 or $10. I don’t know if he’s still with us.