coronavirus cancellations News

Cost of Postponing Tokyo Olympics Could Reach $2.8 Billion

TOKYO – The cost of the postponement for the Tokyo Olympics could reach about $2.8 billion, according to figures released Friday [Dec. 4] by the Tokyo organizing committee, the Tokyo city government and Japan’s national government. The numbers are in …

Big InsurTech Connect Conference Moves From Vegas to Virtual

A surge in COVID-19 cases is forcing InsureTech Connect – one of the world’s largest insurance technology conferences – to go fully digital for its annual fall gathering. ITC has scheduled ITC World Tour, a virtual world tour with various …

Munich Re Expects Coronavirus-Related Claims in Excess of $1 Billion During 2020

Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter profit. The …

NCCI Moves Workers’ Compensation Issues Symposium Online for May 12

The workers’ compensation rating and information organization National Council on Compensation Insurance (NCCI) said it is converting its Annual Issues Symposium from a live to a virtual event due to the coronavirus pandemic. NCCI said it will hold its AIS …

Olympics’ Postponement Likely to Cost Insurers Much Less than Cancellation

Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed …

Tokyo Games Delayed to 2021 in 1st Postponement in Olympics’ 124-Year History

The Tokyo Olympics were postponed on Tuesday into 2021, the first such delay in the Games’ 124-year modern history, as the coronavirus crisis wrecked the last international sporting showpiece still standing this year. Though a huge blow to Japan, which …

Olympics Organizers Remain Committed to Holding Games, Despite Coronavirus

The International Olympic Committee remains committed to holding the Tokyo Olympics this year and is confident steps taken around the world will help contain the novel coronavirus, but the group is now talking in more cautious terms about the potential …

Most British Companies Don’t Have Insurance for Coronavirus Closures: ABI

Most companies in Britain don’t have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday. The government recommended on Monday that people avoid restaurants, bars and clubs, and work from home where …

Meetings Update: Target Markets Mid-Year Called Off; RIMS Cancels Conference

The Target Market Program Administrators Association has become the latest insurance organization to cancel a meeting. TMPAA Executive Director Ray Scotto announced that the 2020 TMPAA Mid-Year Meeting planned for Tampa on May 4-6 will not be held. “With travel …

Meetings Update: RIMS Cancels 2020 Annual Conference; IICF Postpones Events

For the first time in the Risk and Insurance Management Society’s 70-year history, it is not going to have its annual conference. The RIMS 2020 Annual Conference & Exhibition scheduled for May 6 in Denver has been canceled. “We can’t …