Will Smith bungee jump insured up to $200mn via Lloyd's

Lloyd’s insured Will Smith to bungee jump out of a helicopter into the Grand Canyon last month, The Insurance Insider can reveal.

The actor took the plunge on 25 September to celebrate his 50th birthday.

Aon was the broker on the $200mn placement, which it passed to Exceptional Risk Advisors (ERA), a New Jersey-based MGA.

ERA brought the risk to the London market, where it was underwritten across at least three policies, with syndicates at Lloyd’s providing most of the cover.

The total size of the placement is understood to be substantial for a single bungee jump.

ERA placed $150mn of the risk through a JLT facility, according to sources, with Syndicate 609, managed by Atrium Underwriters, acting as the lead underwriter.

Iris Insurance Brokers placed a second slip into the Lloyd’s market, while a third policy was underwritten with company market paper, bringing the total limit up to $200mn. 

Sources suggested that insurers received $500,000 in premium across the placements covering the Men in Black and Independence Day star.

The contractual-protection insurance (CPI) policies would have covered loss of earnings arising from death or injury to the Hollywood actor.

It is understood that video site YouTube was named in at least one of the insurance policies. An official video of the jump currently has 17.5 million views on YouTube.

ERA also underwrote the CPI policy for Star Wars actor Carrie Fisher through its Atrium-led facility.

After Fisher’s death in December 2016, Disney received $50mn from Lloyd’s in one of the largest claims in recent memory for the London accident and health market.

Will Smith rose to fame as a rapper during the 1980s, before becoming the star of the sitcom, The Fresh Prince of Bel Air.

Upcoming projects include Smith voicing Lance Sterling in Spies in Disguise, playing the Genie in a live-action film adaptation of Disney's Aladdin, and appearing as an assassin who faces off against a younger clone of himself in Ang Lee's Gemini Man.

Aon, JLT, Iris and Atrium declined to comment. ERA, YouTube and representatives of Smith’s management team did not respond to requests for comment.

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