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Member, Beacon International Group, Ltd.
JOHANNESBURG—Insurance totaling £6.2 billion ($8.98 billion) in limits is in place for the upcoming FIFA World Cup soccer tournament, according to Lloyd’s of London.
Organizations involved in the tournament, which begins June 10 in South Africa, have property coverage of about £3 billion ($4.34 billion), contingency coverage of about £3 billion and liability coverage of about £200 million ($289.5 million), Lloyd’s said in a statement.
Some of the insurance coverage is underwritten in the Lloyd’s market.
Stadiums and training venues for the tournament have a combined value of about £3.2 billion ($4.63 billion), Brian Oxley, Insurance Manager for the organizing committee at the Zurich-based Fédération Internationale de Football Assn., said in the statement.