The International Olympic Committee is in talks with insurers over being compensated for the postponed Tokyo Games. An “open discussion is under way with insurance brokers, the IOC’s Olympic Games operations director Pierre Ducrey said Thursday. The aim is to try and find the right level of compensation to help us bear the cost of having to wait another year, Ducrey said.
The IOC pays for insurance against the cancellation of an Olympics but it has been unclear if its policy covers the one-year postponement forced by the coronavirus pandemic. Cancellation policies detailed in the IOC’s annual accounts cost $14.4 million for the 2016 Rio de Janeiro Olympics and $12.8 million for the 2018 Pyeongchang Winter Games.