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Wimbledon to receive $141 million insurance payout

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  • Wimbledon to receive $141 million insurance payout

    A week after Wimbledon organizers canceled the tournament due to the coronavirus pandemic, more details have emerged about how an infectious disease clause in its insurance policy will help offset an estimated revenue loss of around 250 million.

    Wimbledon is set to receive around 114 million ($141 million) from the policy, according to the Action Network, a figure in line with The Times’ reporting last week, which estimated the payout to be in excess of 100 million.

    “We’re fortunate to have the insurance and it helps,” said Richard Lewis, Wimbledon’s outgoing chief executive, in an interview with The Guardian. “The insurers, the brokers and everybody involved have been excellent to work with so far, but there’s still a lot of work to do.”

    The All England Club reportedly updated its Wimbledon insurance policy years ago to include the infectious disease clause following the worldwide SARS outbreak in 2002. The Club’s risk and finance subcommittee is charged with assessing all potential risks to the annual tournament, including global pandemics, terrorist attacks and even the death of a monarch, which would thrust the country into a time of national mourning.

    The recently canceled 2020 British Open is also covered by pandemic insurance.

    https://www.sbnation.com/tennis/2020...ce-141-million


    Amazing business decision.

  • #2
    In general, some insurance companies are going to take a hit during this pandemic outbreak
    Waffles are checked cookies

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    • #3
      Originally posted by heppolo View Post
      In general, some insurance companies are going to take a hit during this pandemic outbreak
      Yeah but those who are healthy will benefit from bigger premium payments in the future.

      it might kill some tho
      2019 Year End Charts: The 20/20 Experience

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      • #4
        A pandemic insurance of all things!

        As someone pointed out in the tweet replies, they seem more prepared than the government.

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        • #5
          Originally posted by bm08 View Post
          A pandemic insurance of all things!

          As someone pointed out in the tweet replies, they seem more prepared than the government.
          I am not going to press my "conspiracy theory" button
          Waffles are checked cookies

          Comment


          • #6
            Originally posted by heppolo View Post

            I am not going to press my "conspiracy theory" button

            let’s add this one to the pile! Lol

            Comment


            • #7
              Wow. Someone must've alerted then ha

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