Friday, July 31, 1998 Published at 11:54 GMT 12:54 UK
How the stars cover their assets
Naomi Campbell is among supermodels insured for millions
England striker Michael Owen is the latest in a long line of stars who have felt in necessary to insure the assets that made them famous.
The £60m valuation Liverpool have put on Owen is the highest known for a footballer and reflects the 18-year-old's soaring worth since his impressive displays in France.
But there are doubts any insurance company will take the risk.
Hollywood stars, pop stars and entire sports teams are now insured for millions of pounds.
Gene Kelly, Mae West, Frank Sinatra and Sir Laurence Olivier were among the scores of legendary film stars who followed suit and have been insured by Lloyds of London.
Also on the books of the world famous underwriters have been The Beatles, Michael Jackson, The Rolling Stones and Duran Duran.
Lord of the Dance star Michael Flatley has had his legs insured for £25m, Ken Dodd's trademark teeth are insured for £4m while supermodels Naomi Campbell, Claudia Schiffer and Christie Turlington have cover totalling millions.
Keith Richard's hand is insured for £1m, cricketer Merv Hughes has taken out a £200,000 policy on his moustache and boxer Nigel Benn's fists are insured for £10m.
England captain Alan Shearer's £15m transfer fee meant in 1996 he had to fly on a separate plane from the rest of the Newcastle United team as the travel insurance was too high.
In December last year catwalk models refused to don the latest six inch heels at the Clothes Show Live exhibition without being insured.
They only paraded along the catwalk after their legs had been insured for £50,000.
Suzanne Moore, of the Association of British Insurers, says: "The figure being quoted in connection with Michael Owen refers to his transfer value.
"Players stand to make a lot of money over a fairly short career so if they're injured they will also lose money.
"Michael Flatley has his legs insured for £25m and its great publicity or recently Jamie Lee Curtis had her legs insured as she was advertising stockings."
Insurers do place conditions on policy-holders such as encouraging sensible footwear for someone who values their feet or legs.
Graham Penman of Windsor Insurance Brokers who specialise in sports insurance says the practise has become increasingly common in the last 20 years.
"And when you talk about insuring someone's legs, feet or hands or other assets, you are not in fact actually insuring a particular part of somebody's body.
"Take the concert pianist or surgeon, they may want to insure their hands but what they are insuring is their whole body against permanent disability.
"A road accident may result in a head injury which may prevent that person ever using their hands in the same way again, so you insure the ability to pursue that usual ability."
Among the assets Lloyds of London have insured are:
Stranger policies have included virgins taking out policies against having a baby by immaculate conception in anticipation of the second coming in 2000.
But one performer who was unable to get full cover for his talents was Macclesfield folk hero Mr Methane.
Insurance companies refused to insure his performing bottom, whose talents included renditions of 'Twinkle, Twinkle Little Star' and 'How Much is That Doggy in the Window?'.