Wimbledon Paid Pandemic Insurance For Almost 20 Years, Now It's Getting $141,000 For Cancelling Due To Coronavirus
Save for a rainy day and invest for the future. That is the lesson all parents teach their kids, or at least should. Well if Wimbledon was somebody's child, the parents would be proud because it is reaping the benefits of keeping things ready well ahead. Hope for the best and prepare for the worst is the name of the game.
Save for a rainy day and invest for the future. That is the lesson all parents teach their kids, or at least should. Well if Wimbledon was somebody's child, the parents would be proud because it is reaping the benefits of keeping things ready well ahead. Hope for the best and prepare for the worst is the name of the game.
The 2020 edition recently got cancelled due to the coronavirus pandemic. Sports overall has come to a halt. But it is interesting to know that despite the tournament will survive despite an estimated loss of 250 million pounds.
AFP
The answer to that is an infectious disease clause in its insurance. As a result, Wimbledon is set to receive around 114 million pounds which is equivalent to $141 million and that is a lot of money. According to the Action Network and The Times, that is the sum Wimbledon is going to get.
AP
But this is because Wimbledon prepared ahead. Not that it ever imagined having to be cancelled for such a reason, but it's better to be safe than sorry. In 2002 the SARS outbreak had caused panic all over the world. It was then that Wimbledon added this clause in its insurance for which it has been paying for nearly 20 years. Now, in the time of crisis, it has come to the tournament's rescue.
Reuters
Looks like planning ahead works. Others could take a leaf out of Wimbledon's book. Always cover all your bases so that you are set when the tough times are on you. Needless to say, it was noticed quickly on social media. Here's what people had to say about it:
If Wimbledon was setting aside money for the pandemic, why weren't other businesses?
¡ª Luca Dellanna (@DellAnnaLuca) April 9, 2020
(Of course the answer is: the government will bail us out, that's our insurance policy for which we don't have to pay a premium, citizens will pay for it.) https://t.co/VDzIITN77x
Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years
¡ª Gaurav Gupta (@toi_gauravG) April 9, 2020
(Total: $34 Million)
For this year's cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years
¡ª Sundar Rajan (@csundar86) April 9, 2020
(Total: $34 Million)
For this year's cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
Not exactly a pandemic insurance but yes.
¡ª Sarib (@DrNykterstein) April 9, 2020
Advantage. Wimbledon. https://t.co/7Lon7zuDi8
Wimbledon real hit insurance companies ??? been paying some good money for cases of a pandemic for close to what, 34 yrs? Now walking away with over 140m dollars pic.twitter.com/NeWbqTsxdw
¡ª Echodu (@Mechodu) April 9, 2020
Wimbledon pandemic insurance guy for president https://t.co/hEC6kzrAhC
¡ª Runt (@richieslurps) April 9, 2020
Read where Wimbledon paid $2 million a year (for 17 years) for pandemic insurance. For this year's cancellation they will receive $140+ million from the policy.
¡ª Miguel Lopez (@SBDC_Miguel) April 9, 2020
Kinda like in Vegas when the dealer asks if u want insurance? I mean who buys that right? ??
The coronavirus pandemic is holding the world hostage right now. All sports events are on hold as the disease has claimed nearly 90,000 lives and affected almost 1500,000 people.
