Olympic perils: Reviewing coverage for "The Games"
With fewer spectators, are risks lower for these Winter Games?
Since 1924, athletes from across the globe have dedicated their lives in pursuit of winter sport perfection as they strive for precious metal and Olympic podium fame.
While the sports haven’t changed much since those first Winter Olympics, which included bobsleigh, curling, a host of ice skating competitions and the classic military patrol competition, the risks have amplified as the scale and grandeur of the event intensified with age.
“From the perspective of insurance, it falls in line with what we see with large events in the U.S.,” Mona Grabowski, vice president, entertainment, for Hub International. “What’s important is making sure that before the event steps are taken to ensure every aspect is safe going into it.”
This includes developing strategies such as evacuation plans and active shooter protocols.
One facet of the games that will be noticeably less grand in scale this year will be the number of spectators. While previous Winter Olympics drew millions of spectators, this year’s installment will have a limited attendance of 150,000 people, Bloomberg reported.
With fewer spectators comes less risk exposure, Grabowski explains, noting liability exposure won’t be much different from previous Olympics.
“There is a lower risk of third-party bodily injury or trips and falls. It does have an impact to that degree. But as far as placement, it wouldn’t limit the amount of insurance the organizer would have,” she tells PropertyCasualty360.com.
In terms of spectators, the Winter Olympics typically see fewer risks than its warm-weather counterpart as winter sports such as skiing and snowboarding tend to have fewer spectators “out and about,” Grabowski says, adding: “During the summer games you have team sports and a lot of attendees in one place.”
However, when it comes to the facilities for winter sports the risk factors are higher. Improperly groomed snow and uneven ice can spell disaster when an athlete is traveling at 70 mph down a slope. To protect against this, athletes can place an independent disability policy to cover future earnings and a participant medical policy would cover hospitalization costs, she says.
“As we’ve seen in the live event space, there is always something to be said for being proactive. Event organizers should align themselves with vendors that provide the same caliber of service as the event producer would,” Grabowski says. “Preventing loss is better than having to deal with it on the other end.”
Related: