IOC buys insurance for Athens Olympics

[PfcHammer]

http://www.rep-am.com/sportspage/8723.htm

IOC buys insurance for Athens Olympics

Wednesday, April 28, 2004

Associated Press

LONDON — Guarding against terrorism and natural disasters in Athens, the IOC took the unprecedented step of buying insurance in case the Olympics are called off.

The International Olympic Committee's $170 million policy guarantees that the organization and affiliated national committees and sports federations have enough money to continue operations. The policy would not compensate individual victims.

The policy also doesn't cover corporate sponsors and TV networks, which have billions of dollars riding on the Athens Games. Many have their own insurance, and city organizers underwrite their own liability coverage.

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[Gman]

1. I have this feeling that the entire world is not very enthusiastic

about the Olympics this year. Its just a gut feeling but, except for the athletes, I don't think anyone would be very upset about canceling the Olympics.

[theboss]

2. They should worry about the damn venues

The stadium isn't close to being done.

[PfcHammer]

3. Big time. it'll be a surprise if they pull this off.