Participants and spectators see events like the Women’s World Cup through lenses of competition and entertainment. Insurers have an additional perspective.
“We think of the products that may have been purchased to protect the event,” says Rebecca Mitchell, a contingency underwriter for ArgoGlobal in London.
Hosting a major global function involves substantial amounts of money and takes years of planning. And anyone with a financial interest – from the organizing committee to merchandise vendors at the venue – will be buying insurance.
Mitchell says providers must consider these types of event risks when underwriting things that take place on the world stage.