Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years (Total: $34 Million)

Have to give it to them. Good foresight.

Many will now allege that this is why Wimbledon decided to be cancelled, but the Grass will become impossible to prepare without getting months to do so and the weather after the English summer is no where near being ideal for playing on it.
 
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Start da Game

Hall of Fame
good, nothing new here, it is in their country's culture........they are good at earning just sitting and doing nothing, looting the rest of the world........
 
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blablavla

G.O.A.T.
good, nothing new here, it is in their country's culture........they are good at earning just sitting and doing nothing, looting the rest of the world........
you can keep your salt to yourself.

while clay and HC tournaments could be theoretically rescheduled, try to prepare the grass for a Grand Slam in Autumn or Winter.
so, it sounds more like a plain good management.
 

SonnyT

Hall of Fame
good, nothing new here, it is in their country's culture........they are good at earning just sitting and doing nothing, looting the rest of the world........
You don't know? That's why there's a thing called insurance!

Don't blame them for being smarter than all the others!
 
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TimHenmanATG

Hall of Fame
This is something which I was curious about.

In these multimillion £/$/€ sporting contracts, you'd imagine that there must be a condition within them which accounts for an unexpected interruption, delay, or cancellation.
 

SonnyT

Hall of Fame
Wonder if they'll actually get all that money. The insurance company will go bankrupt probably.
For big projects, many insurance companies come together to underwrite one policy. Even within sports, Wimbledon's policy is not that big: for instance, LA's new NFL stadium costs $5B, its policy is certainly much, much larger than Wimbledon's.

Every single NFL franchise and every single NFL stadium is worth much more than Wimbledon!
 
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Mike Sams

G.O.A.T.
For big projects, many insurance companies come together to underwrite one policy. Even within sports, Wimbledon's policy is not that big: for instance, LA's new NFL stadium costs $5B, its policy certainly is certainly much, much larger than Wimbledon's.

Every single NFL franchise and every single NFL stadium is worth much more than Wimbledon!
Seems the XFL didn't have an insurance plan in the case of a pandemic.
 

SonnyT

Hall of Fame
The insurance and reinsurance companies will probably make hay out of this. Many sports leagues and events don't have pandemic insurance right now. But all self-respecting leagues/events will in the future, despite having to pay undoubtedly hefty premiums, it will be a sellers' market. But most governments in the rich world will learn lessons from this pandemic, so the next one, if it happens, won't be as devastating.
 

Tshooter

G.O.A.T.
D

Deleted member 769694

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For this year's cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
How will that money be allocated? Will they pay the people who arent able to work there now? Grounds keepers, consessions etc?

Or does it go into their pocket
 

SonnyT

Hall of Fame
Like we learned our lessons from Ebola, Zika, Sars et. al
COVID-19 is kind of different from the others, don't you think? Sars1 stayed mostly in Asia, killed about 800 total. Deaths in non-Asian countries were in the single digits. That's probably the main reason Asian countries were more prepared for Sars2. Ebola stayed entirely in Africa. Zika died out after a while.

Interestingly, Wimbledon took out the pandemic policy after Sars1.
 

Tshooter

G.O.A.T.
COVID-19 is kind of different from the others, don't you think? Sars1 stayed mostly in Asia, killed about 800 total. Deaths in non-Asian countries were in the single digits. That's probably the main reason Asian countries were more prepared for Sars2. Ebola stayed entirely in Africa. Zika died out after a while.

Interestingly, Wimbledon took out the pandemic policy after Sars1.
My point was more general in nature. I have doubts whether we‘ll make any fundamental changes concerning habitat destruction and/or wildlife trafficking or whether it will be back to business as usual.

Like the good doctor said, it’s insane that wet markers are still operating now, during a pandemic.

Money > lessons. Obviously I would like to be proven very wrong.

 
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Start da Game

Hall of Fame
the whole concept of insurance is fraud........world started declining when china invented money and barter system was abandoned........all kinds of manipulations began with money........
 
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