Brady White, who makes appearances at the homes of Pamela Anderson, Rene Russo, Kirstie Alley and other celebrities, took out a policy on his beard from London specialty insurance company Lloyd's, Insurance Journal reported Wednesday.
"All sorts of things can happen to Santa's beard and I wanted to know that it was protected. Children can be a little rough so it gets tugged and pulled a lot, and then there is the soot and the danger of being singed when I head down the chimneys," White said.
"A natural growth white beard is a valuable business asset to a highly specialized performer like Brady and thus it is exactly the sort of service industry asset protection that Lloyd's specializes in," underwriter Jonathan Thomas said.
"With his Hollywood clientele it is unlikely that a fake beard could fool children accustomed to seeing their parents transformed into all manner of characters on the silver screen," he said.
The report did not say for how much White's beard is insured.