Cost of doing business >> Scuttlebutt Sailing News
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Released on May perhaps 28th, 2022
The Intercontinental Olympic Committee (IOC) compensated just over $17 million (£13.5 million/€15.8 million) to invest in cancellation insurance for the postponed Tokyo 2020 Online games.
This quantities to an boost of 18 per cent in excess of the $14.38 million (£11.4 million/€13.4 million) the IOC compensated for equivalent protection for the previous Summer Olympics in Rio de Janeiro in 2016.
This was a a great deal more compact quadrennium-on-quadrennium jump than the Lausanne-centered physique faced for insuring the Winter Video games.
Whereas the top quality compensated to protect for the Sochi Winter Game titles in Russia in 2014 was $7.565 million (£6 million/€7 million), the rate paid for coverage for Pyeongchang 2018 leapt by 69 for each cent to $12.8 million (£10.15 million/€11.9 million).
The develop-up to the 2018 celebration coincided with a period of heightened geopolitical tensions in and all-around the Korean peninsula.
The Tokyo cost provides to just beneath $30 million (£23.8 million/€28 million), the sum spent by the IOC on cancellation insurance coverage throughout the COVID-impacted 2017-2021 Olympic cycle. – Complete report
