Insurers Take On Olympic-Sized Risks At The Winter Games

 Tuesday, February 13, 2018

 Insurance Business

If the ongoing Winter Olympics in South Korea finish successfully, insurers could be in for a neat profit, given the myriad of risks present. The Games’ host city of Pyeongchang is just a two-hour drive from one of the most militarised borders in the world between countries still technically at war. Add to that the recent exchange of nuclear threats between the United States and North Korea, it’s understandable that fears and worries abound. According to a report by Reuters, the Games’ organisers, the International Olympic Committee (IOC) purchase insurance worth US$800 million for each Olympic event, covering the majority of its roughly US$1 billion investment in each host city.
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