The countdown has officially begun for this summer's Olympic games in London. There are just under 100 days until the Olympic torch is lit, commencing the start of the games. As the world competition approaches, the insurers behind the event are finalizing the important coverages necessary for such a large sporting event.
The Insurance Journal dives into the risk details and potential concerns in their recent article which you can read here.
The insurance behind such a global event are divided into three categories of coverage: Liability, Event Cancellation and Property Damage. Liability will cover the athletes, officials and personnel as well as the many possible injury claims. Event cancellation is something that has been in place since London won the hosting gig back in 2005. And of course Property Damage is going to cover the buildings and equipment at the over 60 sites for the competitions.
Insurance is there to cover any possible situation that could arise, but we hope all goes smoothly for everyone. We can't wait to watch this summer. Go USA!