GLOBAL FOCUS

Russia: Stakeholders in Sochi Games seek cover for potential lost income

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The financial stakes for leading global insurers have increased as more stakeholders in the Sochi Winter Games seek cover for potential lost income, The Globe and Mail reported.

The International Olympic Committee has coverage of $500 million for the games that is spread among several insurers.

Andrew Duxbury, event cancellation insurance expert at Munich Reinsurance Co., said cancellation of the Olympics could have an estimated economic impact of more than $5 billion.

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