The world-famous lawn tennis tournament in Wimbledon will not be able to insure itself for a pandemic event in the coming year, despite the corona crisis. The British daily “The Telegraph” reported, citing testimony from tournament organizer Richard Lewis. The Grand Slam tournament in London, which started on Monday, had little financial damage this year… Continue reading Wimbledon 2021 Will Not Be Insured Against Pandemic
Tag: coronavirus insurance
Wimbledon’s Organizers Set for a $141 Million Payout After Taking Out Pandemic Insurance
Wimbledon was set to run from June 29 to July 12 this year, but was cancelled for the first time since World War Two, because of the coronavirus pandemic. But according to Action Network sports business reporter Darren Rovell, the organizers are set to receive a $141 million payout thanks to the coronavirus pandemic insurance… Continue reading Wimbledon’s Organizers Set for a $141 Million Payout After Taking Out Pandemic Insurance
Ohio, Mass. Bills Join NJ in Aiming to Expand Companies’ Virus Coverage
Lawmakers in Ohio and Massachusetts have proposed bills that would retroactively expand business interruption insurance policies to cover companies’ losses attributable to the outbreak of the novel coronavirus, following on the heels of New Jersey legislators’ recent introduction of a similar proposal. On Tuesday, Ohio state Reps. Jeffrey Crossman and John M. Rogers, both Democrats,… Continue reading Ohio, Mass. Bills Join NJ in Aiming to Expand Companies’ Virus Coverage
Coronavirus: Insurers to Sidestep Most Costs
Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The world’s largest insurers have learned lessons from previous health crises, including the 2003 SARS outbreak. Over the years, they’ve tightened up their policies, inserting communicable-disease… Continue reading Coronavirus: Insurers to Sidestep Most Costs