2020 -> 2021 Olympic Sevens (Tokyo)
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My understanding is they had Insurance for cancelling the event due to a range of reasons, pandemic being one, but postponement wouldnt trigger the policy, I assume they renegotiated with thier insurers last year a different settlement if they postponed and then had to cancel rather than just cancelled it last year.
That said, that is only for the IOC and expect it still wouldnt cover all thier losses, plus it doesnt help the Japanese who according to the above invested 25 billion, of which I expect some losses would likely be uninsurable, if they took out the cover for pandemics at all (if it was even available)
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@Gunner said in 2020 -> 2021 Olympic Sevens (Tokyo):
Japan denying that the games will be cancelled.
They're bullshitting. UK just announced that it's version is 30% more fatal, as well as 70% more contagious (initial studies), the Brazillian and SA versions might not respond fully to current vaccine - no way Olympics is going ahead.
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Then we can probably scrub the 2024 one as well. It's not like we will have wiped out Covid by then if the vaccines don't work.
At some point some people have to grow some spine. It's not like the young healthy athletes are at any risk from Covid (give or take a few shooters) and it won't be hard to find some administrators who will leap at the opportunity if others don't want to go.
The IOC have to reimburse the Japanese the lost crowd money, or both lose out massively.
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With COVID-19 cases soaring worldwide, and much of Japan under a state of emergency due to a third wave of coronavirus infections, the viability of the 2021 Tokyo Olympics has once again been called into question.
If the Games are cancelled as a result of the pandemic, insurers are facing a US$2-3 billion loss, which would be the largest ever claim in the global event cancellation market, according to a Reuters report.
The International Olympic Committee (IOC) executive board is due to meet this week to determine a course of action. Both the IOC and Japanese organizers have stated that a second postponement is out of the question after they delayed the 2020 Tokyo Games by 12 months. As things stand, a total cancellation seems more and more likely.
While the event cancellation insurance market has already taken a huge hit from the COVID-19 pandemic, Simon Henderson, an executive director at Gallagher, told Reuters that cancellation of the Olympics “would be by far the largest [loss].” He said: “The Olympics is a World Cup, it’s a tennis tournament, it’s an athletics tournament. It’s swimming, everything all in one - definitely a huge headache.”
Jefferies analysts have estimated the Tokyo Olympics is insured for approximately US$2 billion, plus a further US$600 million for hospitality.
Cancellation losses will come from multiple sources, not only from the IOC and local organizing committee (who have approximately $800 million and $650 million in coverage respectively), but also from broadcasters, sponsors, professional sports teams, and the many other organizations involved in the Games – many of whom will have already been able to claim some costs as a result of last year’s postponement.
Tim Thornhill, director at the Lloyd’s broker Tysers, told Reuters there was “no rule of thumb” as to how much of the total insured value of an event could be claimed under the postponement section of an event cancellation policy. One thing’s for sure – if the Tokyo Olympic Games are cancelled, the payouts are likely to be much higher than those made for postponement.
According to Reuters, the insurers and reinsurers likely to take the largest hits from a cancellation include Lloyd’s of London insurers, Munich Re (which allegedly has a US$500 million exposure to the Tokyo Olympics), and Swiss Re (which has a US$250 million exposure).
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Referee appointments: 3 Kiwis
Men's Sevens (26-28 July)
James Doleman (New Zealand)
Craig Evans (Wales, Great Britain)
Francisco Gonzalez (Uruguay)
Sam Grove-White (Scotland, Great Britain)
Nori Hashimoto (Japan)
Richard Haughton (England, Great Britain)
Damon Murphy (Australia)
Nehuen Rivero (Argentina)
Matthew Rodden (Hong Kong)
Damian Schneider (Argentina)
Jordan Way (Australia)Women's Sevens (29-31 July)
Sara Cox (England, Great Britain)
Amy Perrett (Australia)
Hollie Davidson (Scotland, Great Britain)
Lauren Jenner (New Zealand)
Adam Jones (Wales, Great Britain)
Paulo Duarte (Portugal)
Tyler Miller (Australia)
Madeleine Putz (Australia)
Tevita Rokovereni (Fiji)
Selica Winiata (New Zealand)
Julianne Zussman (Canada)
Match Officials Appointments | World Rugby
World Rugby match official appointments for international matches and tournaments.
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@higgins said in 2020 -> 2021 Olympic Sevens (Tokyo):
@stargazer Whew, no Rasta!
Haha my thoughts exactly
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@higgins said in 2020 -> 2021 Olympic Sevens (Tokyo):
@stargazer Whew, no Rasta!
He really didn't like us. I wonder what the stats were when he was in charge of our matches.
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The worst ref, from an AB7s perspective, is still there: Craig Evans. I'll never forget how he robbed us in the Cup semi-final of the 2019 Las Vegas Sevens, which we lost to the USA due to a very controversial decision. The USA had to win their home tournament and they did.
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All Blacks winger Caleb Clarke will be going for gold in Tokyo after committing to New Zealand's Olympic sevens squad.
Along with hot-stepping Chiefs star Etene Nanai-Seturo, Clarke will bolster New Zealand's men's team, the All Blacks sevens, Stuff understands.Clarke's commitment to sevens means he will be unavailable for the Blues for Super Rugby Trans- Ta$man, which starts on Friday, and for the start of the All Blacks' test campaign in July.
He is expected to return after Tokyo and be available for the All Blacks but could opt for a rest to manage his workload. -
@stargazer said in 2020 -> 2021 Olympic Sevens (Tokyo):
Good decision. Might help him get his mojo back
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@crucial said in 2020 -> 2021 Olympic Sevens (Tokyo):
@stargazer said in 2020 -> 2021 Olympic Sevens (Tokyo):
Good decision. Might help him get his mojo back
Yeah I was coming here to post that.
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@stargazer said in 2020 -> 2021 Olympic Sevens (Tokyo):
And now it's official:
I think this is good news for the 7s team and the Chiefs.
Stuff
