Casinos Are Taking Out Insurance Policies Against Gamblers

September 2, 2015 in Daily Bulletin

Casinos are buying abduction insurance in China’s gambling center, Macau, writes Mark Rivett-Carnac:

  • Due to economic concerns more people are racking up gambling debts that moneylenders get repaid through kidnappings.
  • Gamblers are normally abducted from their hotel rooms, meaning that hotels are potentially liable for what happens.
  • Therefore hotels are taking out insurance policies – if their guests get kidnapped, the insurance company will pay.
  • This comes at an awkward time for Macau which is already dealing with falling visitors as a result of China’s anti-corruption drive which has made people worried about displaying wealth.

Read more here.

Source: Time