Sports insurance market expected to reach revenue of $600 billion by 2025

Credit rating agency DBRS Morningstar expects the global sports insurance market to reach a revenue of $600 billion by 2025, driven by rapid expansion of the professional sport industry, Reinsurance News reported. While insurance uptake for professional teams and players continues to increase, growing COVID-19, geopolitical and climate risks faced by sporting events and their venues are driving the demand for business interruption and event cancelation policies.