Is your favorite team still competing in the World Cup? While your biggest concern may be whether or not they win, James Davies, Integro’s Head of Sporting Events Contingency, told Reuters the biggest concerns for insurers are terror risk, war risk, cancellation or a match being moved from one stadium to another.
Personal injury and cancellation will always accompany sporting events, including the soccer World Cup. But this year, Reuters reports that the risk of terror attacks and damage from hooligans are on underwriters’ minds, which is causing insurance premiums to rise for stadium owners, ticketing agents, catering companies and players participating in the World Cup.
Reuters interviewed Integro’s Davies for the piece and quoted him as saying, “The biggest concerns are terror risk, war risk, the event not happening or a match being moved from one stadium to another – this one is more likely.” Davies also added that these concerns are causing premium to harden slightly.
Davies should know; in addition to founding Longreach, which was acquired by Integro in 2015, he has worked in entertainment and risk management for nearly 25 years, including six years at Aon Ruben where he was the driving force behind the creation of its UK Sports and Recreation department. Davies has worked as a risk manager and broker on many international sporting events including the Ryder Cup, World Cup, New York Marathon and Cricket World cup.
Explore Integro’s solutions for sport now.