What business insurance would Santa Claus need?
Like any business person, Santa would need to review his planned operations and develop a clear plan to discuss with his insurance professional. He would want to have all of his relevant documents with him for his meeting (I hope he'd use the checklist on this site!).
Santa will be involved in the assembly, manufacture and supplying of toys to children. His unique approach will be to make a determination of "naughty" vs. "nice" - with the "naughty" not receiving toys. He will be using Google and other internet companies as a market model and provide a service ostensibly "for free," but will charge for direct targeted advertising (and cookies).
To start with, Santa will need property and liability coverage. He will be in customer homes and will want sufficient liability coverage in case of damage to the homes. He will want property coverage for his production facilities and equipment. The toys are delivered by hand by his sled. He will need commercial auto coverage and perhaps a specialized equipment policy because a flying sled is not easily replaced. In fact, it would be a good idea for Santa to look at a couple of non-traditional policies such as international operations and valuable papers coverage (what if the naughty list is lost?).
Santa is placing products into the stream of commerce as a supplier and as a manufacturer so he will need product liability coverage. Although I hear that they may be grooming some of the elves to take over, if Santa were to become disabled or ... well, not able to work, the organization could have key man coverage in place on Santa to get the group over the rough times if Santa was gone.
To keep well trained elves on the workforce, Santa will need to offer health insurance. Finally, workers' compensation coverage is probably mandated at the North Pole.
Santa may face some high premiums for property coverage because of the harsh climate at the North Pole and may need wind insurance and specialized storm coverage. And, since the North Pole is only ice, he should consider flood insurance.
I think Santa should consider taking out some travel insurance as well. What if he were injured on his trip?
This is the first time I’ve read that Santa may need insurance. Although it sounds a little funny I have an idea you are right.