Agent: Their event cancellation policy limits are either based on gross receipts or total expenses, with specified triggers being applied for terrorism (time vs distance). If I had to guess, I would say easily seven figures, but the Boston Marathon tragedy probably won’t factor. The high-profile nature of the Olympics and all of those nationalities congregating in one place is cause enough for a higher premium.
Should have been Los Angeles!
You can have it if you want – most of us don’t want The Olympics to be held here!
I wonder how much the Terrorism part was to cost on the insurance coverage in light of the Boston Marathon tragedy.
Agent: Their event cancellation policy limits are either based on gross receipts or total expenses, with specified triggers being applied for terrorism (time vs distance). If I had to guess, I would say easily seven figures, but the Boston Marathon tragedy probably won’t factor. The high-profile nature of the Olympics and all of those nationalities congregating in one place is cause enough for a higher premium.