FIFA World Cup - big money on the pitch, even bigger off it
Most (not all) of us are looking forward to June's football World Cup. Risk and insurance companies will be particularly interested in events in South Africa, as they have provided around $5 billion dollars' worth of coverage for the month-long event.
From TV screens going blank during the game, to travel problems, terrorist attacks and freak weather conditions, the risk profession plays a key role when it comes to big tournaments, even though it's an invisible part of the process (we hope).
When the sums are as huge as this, reinsurance companies like Swiss Re and Munich Re get involved to in effect 'insure the insurer' - some smaller insurance companies can't accept huge risks without their help.
So, while you cringe at the opening ceremony, spare a thought for the companies who are insuring it...
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