BRITISH insurers could lose millions of pounds under a bizarre insurance policy taken out by the 39 computer cult members whose bodies were discovered in California last week.
Under the terms of the policy, each cult member stood to receive $1 million in the event of alien abduction, alien impregnation or death by alien attack.
The annual insurance policy was taken out on October 10th last year through the underwriting agent Goodfellow Rebecca Ingrams Pearson (GRIP). It specialises in, among other others, policies against alien abduction and virgins becoming pregnant through immaculate conception.
GRIP underwrites on behalf of a consortium of major UK insurance companies which stands to lose $39 million - around £24 million - if a coroner's court in the United States delivers an open verdict.
GRIP managing director, Mr Simon Burgess, said yesterday in that case the estates of the various 39 members might decide to pursue claims through the courts.
While he was "gravely saddened" by the deaths of the group members, he believed he had to keep an open mind until the inquest confirmed that they died as a result of suicide.
"My belief is that aliens were not involved in these people's deaths. However, we have to keep an open mind," he said.
But a verdict of suicide from the US coroner would invalidate any claims against GRIP, he said.
The annual premium for the group, known as Heaven's Gate, but which carried the alternative name of The Higher Source in the insurance policy, was $1 million a year.
The cult, which ran an Internet web page company known as the Higher Source, would have known of the existence of GRIP as its services are detailed on the Internet.
GRIP has built up a reputation for broking unusual insurance policies. It has 4,000 clients worldwide insured against alien abduction, while several hundred virgins have taken out policies against immaculate conception.
The annual charge for such policies is £100, but as Mr Burgess emphasised: "There has never been a genuine claim for alien abduction."