The World Cup of Brazil defies insurers predictions

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Jun 2014

The premature removal of major football nations of the Brazil's World Cup won't have taken only the Lloyd's by surprise. Second country to go back home, Spain has fail to honour its world champion title and to qualify for the team final as the venerable London institution had predicted.

Bitter assessment for South Korea too, where the insurance industry had granted the national team a 55% chance to make it to the second round. In the end, Taeguk warriors come last in their group with one draw to the counter.
Other traditional countries like England, Italy, and Portugal have suffered the same fate. A shock not without an impact for the insurance sector, related to this competition by some activities covered against the risk of exit of the World cup.

Some marketing expenses in Korea are included in this category of claims, such as promises of gifts subject to good performances of the national team in Brazil.

In China, insurance policies have been put on sale to cover risks of "getting drunk" evenings after a loss. The Chinese company Ancheng extends the experience by proposing a "heartbreak insurance" to supporters of eight teams, among them, Argentina, France, Spain and Brazil.
Another notable product, the "hooligan" insurance, available in China for the whole duration of the World Cup, to cover against attacks and other risks involved during the event.