The All-England Lawn Tennis Club, which hosts The Championships, more commonly known as the Wimbledon tennis tournament, is getting around $141 million in a payout in “Pandemic Insurance.”
Wimbledon was supposed to run from June 29 through July 12, 2020. The AELTC announced on April 1 that the Championships would be cancelled, due to public health concerns linked to the coronavirus epidemic. The next Wimbledon Championships are now scheduled for June 28 through July 11, 2021. The very first tournament at the club was in 1877.
According to numerous sources, including Wikipedia, The AELTC has been paying around $2 million a year for the insurance, after looking at the SARS epidemic in 2003 and realizing the possible impact of a global pandemic. The total payout of $141 million will recoup the $34 million in premiums, but the event, had it been held, would have likely brought in at least $300 million in advertising, sponsorships, ticket sales, and concessions.
The industry magazine Insurance Journal reports that Pandemic Insurance is rare, but available, but it’s too late to purchase it to cover COVID-19.
