News Alerts
Headlines
FIFA set up 2010 World Cup insurance found
World Cup 2010 - 03 April, 2008
Adjust font size:
With insurance companies not yet committing to backing up the 2010 World Cup, FIFA has set up a GBP 400 million back-up fund in case the tournament fails.
The biggest concern among insurers is the possibility of stadiums not being ready on time. As such, FIFA has decided to build a GBP 400 million pot in case of Cup cancellation.
Munich Re, a German insurance company, covered the last Cup. A spokesman for the group said there were great concerns despite FIFA's positive take on the situation. Some stadiums are rugby-type and others are in bad shape.
Insurance companies also listed security issues and transportation has trouble spots.
In the future, FIFA may require the local organizing committees to back their bids with insurance.
The fears aren't unfounded. Next year's Confederations Cup may not proceed as scheduled.
The biggest concern among insurers is the possibility of stadiums not being ready on time. As such, FIFA has decided to build a GBP 400 million pot in case of Cup cancellation.
Munich Re, a German insurance company, covered the last Cup. A spokesman for the group said there were great concerns despite FIFA's positive take on the situation. Some stadiums are rugby-type and others are in bad shape.
Insurance companies also listed security issues and transportation has trouble spots.
In the future, FIFA may require the local organizing committees to back their bids with insurance.
The fears aren't unfounded. Next year's Confederations Cup may not proceed as scheduled.
Source: euFootball.BIZ © Copyright 2006 -
All rights reserved.
© Copyright message
The copying, republication, redistribution or web posting (including by framing or similar means) of this content is expressly prohibited without the prior written consent of euFootball.BIZ
-
Finance
Television
Sponsorship
Marketing
Technology
Competitions
Clubs
Stadia-Facilities
Legal
Administration