The official, tongue-in-cheek gift from the Northern Territory’s Chief Minister, Paul Henderson, would have cost £6.40.

Michelle would have received £30,000 if he’d been attacked and eaten in the outback.

Speaking in front of 2,000 US Marines and Australian troops at the RAAF base in Darwin, he said: “I was just presented with the most unique gift I have ever received as president – crocodile insurance. My wife, Michelle, will be relieved. 

“I have to admit when we reformed health care in America, crocodile insurance is one thing we left out.”

Saltwater crocs in the Northern Territory kill at least one person a year and weigh more than a tonne, growing up to five metres.
Henderson said: “It’ll look pretty good in the presidential library.”

Obama also tried out a bit of Aussie slang while out there, speaking about “sticky wickets”, “cracker-jackers” and having a “chin wag” with Prime Minister Julia Gillard in a speech he gave yesterday.