Wednesday, 9 June 2010

World Cup insured for £6.2bn

According to "The Insurance Daily" 7th June 2010

The World Cup, the world’s most watched sporting event, begins this month, and Lloyd’s has stated that it is insured to the tune of £6.2bn.

The World Cup began in 1930, and has grown into the biggest sporting spectacle of the global stage, with huge support from all corners of the planet and tremendous financial implications for broadcasters and FIFA.

Football is bigger business than ever before, and according to Beazley underwriter Peter Thompson an individual top flight footballer can be insured for up to £50m.

The ten stadia that are to be used in the tournament are an equal mix of old stadia and new ones specially built for the event, and are worth a combined total of £3.2bn.

However, insurance is not the sole preserve of the talented athlete or prudent tournament organiser.

The ABI and Direct Travel Insurance have both, in recent months, strongly urged fans travelling to South Africa to take out travel insurance to protect themselves, should anything more serious than an unexpected footballing defeat occur.

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