Terrorism is driving up the insurance price of sporting, cultural and professional events
Since the Wall Trade Center (New York) terrorist attack in 2001, the insurance price of insurance sporting, cultural and professional events has been steadily increasing.
In France, following the attack on the Charlie Hebdo newspaper in January 2015 and the series of attacks of November 13th of the same year that targeted the Stade de France, the Bataclan theater and two Parisian districts, the insurance prices punctually gained more than 300% before starting to decline.
In addition to the rate increases, cancellation insurance in case of an attack has become more restrictive and reduces the coverage radius to a few kilometers around the event.
In 2017, insurers remained on their guard. Insurance cancellation covers in the event of an attack continue to be restrictive, proposing only coverages of less than 12 million EUR (13.4 million USD). The organizers of major sporting events are therefore obliged to resort to several insurers to protect themselves.
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