FIFA World Cup insurers may refuse cancellation insurance payouts, experts say

Experts have said that insurers of the FIFA World Cup are likely to refuse payout on several cancellation contracts if Russia and Qatar lose their World Cup hosting rights due to fraud, reports Reuters.

Several contracts are likely to be cancelled or go into dispute if governments or firms such as sponsors and broadcasters, have taken out cancellation insurance and are found to be guilty of fraud, insurance experts and lawyers said. Numerous policies are likely to end up being disputed in court considering the size of the tournaments and the number of insurance transactions taking place.

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