Olympics Insured Against Terrorism

The upcoming Olympic Games, scheduled to take place in Athens, Greece will feature athletes from all over the world and help promote the Olympic spirit of forging a global community through sports. In the contemporary era of global terrorism, however, it is particularly such international events that are most vulnerable to terrorist attacks. The organizers of the Games, the International Olympic Committee, has taken the unprecedented step of purchasing insurance to protect itself against the cancellation of the 2004 Olympic Games in Athens because of war, terrorism, or natural disaster. A cancellation due to war or terrorism might have devastating effects for the Olympics – billions of dollars, acquired through corporate sponsorships and live world telecast rights, would be lost, and the spirit of the Olympics, regrettably damaged. –YaleGlobal