Insurance space dedicated to London Olympics
This week I have decided to use my article space to say something about Olympics. Though I am not fortunate enough to go and watch live games in the stadium, despite of being in UK, but I definitely won’t miss a chance to demonstrate my patriotism by devoting this small little web space to present gratitude and honor we felt in hosting Olympics 2012.
Firstly, I would like to congratulate BBC for becoming the official channel partner of Olympics 2012. Nearly, 765 staff members of BBC will be attending the event at the stadium to facilitate live coverage of the entire tournament on TV. It has put all its strength and technology together to give life to first truly “Digital Olympics”. Along with the millions of dollars business this game might bring in, there are tones of responsibilities associated with it. International Olympic Committee (IOC) and London Organizing Committee of the Olympic Games (LOCOG) have come together to share the responsibility of planning and implementing Olympic risk strategy, risk and loss involved in case of event cancellation, etc. This risk is backed up with appropriate insurance coverage.
G4S companies have taken the charge of security in the games. And the approximate cost of the entire arrangement would go around 280 million Euros. It was also stated that G4S security force was unable to take the burden of Olympics security solely; hence it requested Government to supply 3000 military personnel to meet the deficit manpower.
YouTube has also come on front foot to broadcast Olympics game in Africa and Asia for free. So it is very much expected to see an increase in the fan following of Olympics games this year.
Insurance plays an important role in the functioning and proper implementation of Olympics games. Every sector that involves risk needs to be covered with proper insurance coverage. Be it car, life, health or earning, insurance can reduce the risk by sharing the burden.
Article written by the marketing division of CompareCom