SUSPICIOUS PERSON: Hi, I represent a secretive foreign dictatorship with a history of concealment and malfeasance and a desperate need for hard currency to help prop up the regime. I'd like to buy an insurance policy from you, although even the most gullible person would probably be able to predict that we'll manufacture any number of fraudulent claims to obtain gigantic payouts.
INSURANCE INDUSTRY: Sure, sign here!
[Curtain]
Leave the Koreans alone Balk.
THEY ARE JUST TRYING TO GET THEIRS.
I just closed another Pyongyang deal!!! Vegas baby...
But they need that money to get the Prince of Nigeria out of political prison! I have an e-mail explaining it, if you want me to forward it to you.
The insurance companies had a weak case "because they had contractually agreed to be bound by North Korean law."
That is the single most absurd thing I have ever heard in all my years of practicing law.
Agreed squared. Although I deal with insurers, and reinsurers, and, um, the industry is not populated by 100-watt bulbs.
"The North Korean insurance monopoly sometimes took advantage of the geographical and political ignorance of brokers and reinsurers, according to the London-based insurance expert. Some brokers and companies, he said, thought they were dealing with a company from South Korea, while others were unaware that North Korea is a secretive totalitarian state with one of the world's worst human rights records."
too dumb to live. jeeeeeee-sus!
DO NOT SELL THIS MAN GIANT RABBITS, EITHER!
http://www.spiegel.de/international/zeitgeist/0,1518,475218,00.html