Munich Re, one of several insurers of the Tokyo Olympics, set up a global team three years ago with"deep expertise in epidemiology, statistics, risk modeling, finance and claims management" and developed a number of different options for companies, Rakette told NBC News.Demand for this type of coverage was so limited before the outbreak that Munich Re doesn't anticipate significant exposure related to payouts.
If the disease continues to spread, companies without existing epidemic coverage will likely be exposed and affected, said Paul Isaac, a partner at MDD Forensic Accountants, which specializes in quantifying damage. "Events are more than simply ticket sales or corporate entertainment packages," Isaac said."Generally, attendees travel globally to the venues/host countries, meaning the impact is felt from airlines, hotels, tourist attractions and throughout the wider economy."Large events may be protected by such insurance cover — possibly having learned the lessons from the SARS outbreak 18 years ago — but many smaller events may not.
The impact of a postponement or a cancellation could be a lack of increased revenue for a city or it could be an actual loss of revenue if facilities and attractions were built specifically for the event. "How far the ripple effect reaches will become apparent once the full impact of the coronavirus has worked itself through the business world," Isaac said.
Acmawards.
Wypipo just come with alternative insurance when it suits them. SMH!
Or maybe not plan to have hundreds of thousands of people in the same place at the same time during a PANdemic?
UniteWomenOrg Do more coverage as to why ventilator production isn't being ramped up. Nobody gives a crap about the events.
:( Closing the barn door after the cows are already out.
Where’s the Insurance policy for the Dollar, federalreserve ? WSJmarkets