Cancellation of the Summer Olympics, Tokyo 2020
Japan, the host country of the 2020 Summer Olympics, has already invested more than 12 billion USD for the games. However, the rapid spread of the coronavirus may result in the cancellation of the event. As for any large-scale sporting event, a cancellation insurance is underwritten by the organisers.
The premium for this policy generally varies between 2 and 3% of the insured sums. The International Olympic Committee (IOC) takes out an insurance worth of 800 million USD for each summer games. The Lloyd's of London, Allianz and Munich Re are among the insurers and reinsurers involved in the coverage of the Olympic Games.
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