Report: Wimbledon to receive $141 million in pandemic insurance payout
For each of the past 17 years, the All-England Lawn Tennis Club has paid for an insurance policy to guard against losses if Wimbledon should have to be canceled in the event of a worldwide pandemic.
That preparation will finally pay off this year. According to a report by the Action Network, the insurance will result in a payment worth $141 million — or nearly half the amount that the club expects to lose as a result of the cancellation.
Officials would not confirm the details, but a spokesperson did tell the Action Network that the All-England Club “has always sought to buy the optimum insurance coverage available.”
Source: Read Full Article