Despite the Risks, Japan Gambles on Successful Olympics
Should the games be canceled, insurance companies that have provided policies to cover risks would be among the biggest casualties.
(Bloomberg) — The Tokyo Olympic Games is reaching the point of no return.
With six weeks until the opening ceremony, the Japanese government, the International Olympic Committee and major stakeholders are gambling political reputations and billions of dollars on staging a game that could lift global spirits and show how we could begin a return to normality. Or, in the worst case, create a superspreader event that savages Japan’s tottering economic recovery and blights the image of the world’s biggest sporting showcase.
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