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By Reuters 2021-01-28T15:38:00+00:00 Insurers are facing a $2-3 billion loss if the Tokyo Olympics are cancelled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee’s (IOC) executive board meets this week. The Olympic body, which will meet remotely, finds itself in a similar situation to March last year, when it postponed the Games by 12 months as the COVID-19 pandemic shut down sport worldwide. Much o...

LONDON -- Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event

By Syndicated Content By Carolyn Cohn and Noor Zainab Hussain LONDON (Reuters) - Insurers are facing a $2-3 billion loss if the Tokyo Olympics are cancelled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee's (IOC) executive board meets this week. The Olympic body, which will meet remotely, finds itself in a similar situation to March last year, when it postponed the Games by 12 months as the COV...

If Tokyo Olympics Canceled, Loss for Insurers Would Be ‘Mind-Blowingly’ Big LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee’s (IOC) executive board meets this week. The Olympic body, which will meet remotely, finds itself in a similar situation to March last year, when it postponed the Games by 12 months as the COVI...

Last updated 1 month ago | By Reuters The Olympic rings are illuminated in front of the National Stadium in Tokyo, Japan January 22, 2021. [REUTERS/Kim Kyung-Hoon/File Photo] Insurers are facing a $2-3 billion loss if the Tokyo Olympics are cancelled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee’s (IOC) executive board meets this week. The Olympic body, which will meet remotely, finds itself in a simil...