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Local Olympics organisers face uninsured loss from spectator ban-sources
Reuters | Jul 12, 2021 03:39 PM EDT
The Olympic rings are illuminated in front of the National Stadium in Tokyo, Japan (Photo : REUTERS/Kim Kyung-Hoon//File Photo)
The local Tokyo Olympics organising committee is unlikely to get much of an insurance pay-out due to lost ticket sales from a ban on spectators, after using up much of its event cancellation policy on postponement costs last year, insurance sources say.
The Olympics will take place without spectators in host city Tokyo, organisers said last week, as a resurgent coronavirus forced Japan to declare a state of emergency in the capital that will run throughout the Games.
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Most games at the Tokyo Olympics will be held without spectators, forcing the organizers to face uninsured losses from ticket sales. | KYODO
Reuters Jul 13, 2021
London – The Tokyo Organising Committee is unlikely to get much of an insurance payout for lost ticket sales from a ban on spectators at the Olympics, after using up much of its event cancellation policy on postponement costs last year, insurance sources say.