This year’s Olympic Games cancellation cover will be spread across the insurance industry, involving Lloyd’s, Swiss Re, Munich Re and AIG, according to industry sources.
A leading broker said these insurers had provided the majority of the cover for the International Olympic Committee (IOC).
The games in Athens will be secured by cover worth $170m against cancellation of the event due to terrorist attacks or natural catastrophes.
The cover applies to the IOC itself as well as its national subsidiaries but does not cover the Athens organising committee (Athoc) or sponsors associated with the event.
