. Insurers face ‘mind-blowingly’ large loss if Olympics cancelled « JO LEE MAGAZINE

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.

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 of Japan is now under a state of emergency due to a third wave of COVID-19 infections.

Full story at Reuters

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