So much for “unexpected pregnancy insurance”

Chinese regulators banned the sell of ‘creative quasi coverage packages” also referred to as non-traditional insurance products. Think: coverage against…acne, sleep deprivation, unexpected pregnancy or even getting drunk. Turns out, 400 million users of Alibaba’s Alipay payment service can purchase a “Take Care of the Beautiful Cook” package that pays out if the covered person suffers cuts or burns while preparing food. And that’s a problem because…some commissioners said so.