header-logo header-logo

An Olympic risk

03 August 2012 / Robert Kay
Issue: 7525 / Categories: Opinion , Health & safety , Insurance / reinsurance
printer mail-detail

Robert Kay crunches the numbers involved in securing & insuring the London 2012 Olympic Games

With the London 2012 Olympic Games in full swing, it is worth remembering the myriad issues—and risks—the International Olympic Committee (IOC) has faced in insuring an event that is “the biggest security challenge this country has faced for decades”. A glance at the magnitude of the Games reveals some of the challenges.

London 2012 in numbers

Construction of the London Olympic Park required the demolition of more than 200 buildings, renewal of 1.4 million square metres of site, addition of 200 kilometres of electrical cables and construction of 30 bridges. In addition 4,000 trees, 74,000 plants, 60,000 bulbs and 350,000 wetland plants have been planted (and 2,000 newts relocated to a nature reserve).

In total, there are 50 sites, hosting 14,700 athletes from 205 countries competing across 26 sports in 34 venues. Moreover, roughly 500,000 spectators, 20,000 media and broadcasters, and a worldwide television audience of about five billion (with £5bn being the estimated advertising revenue) are

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Freeths—Ruth Clare

Freeths—Ruth Clare

National real estate team bolstered by partner hire in Manchester

Farrer & Co—Claire Gordon

Farrer & Co—Claire Gordon

Partner appointed head of family team

mfg Solicitors—Neil Harrison

mfg Solicitors—Neil Harrison

Firm strengthens agriculture and rural affairs team with partner return

NEWS
Conveyancing lawyers have enjoyed a rapid win after campaigning against UK Finance’s decision to charge for access to the Mortgage Lenders’ Handbook
The Crown Prosecution Service (CPS) has launched a recruitment drive for talented early career and more senior barristers and solicitors
Regulators differed in the clarity and consistency of their post-Mazur advice and guidance, according to an interim report by the Legal Services Board (LSB)
The dangers of uncritical artificial intelligence (AI) use in legal practice are no longer hypothetical. In this week's NLJ, Dr Charanjit Singh of Holborn Chambers examines cases where lawyers relied on ‘hallucinated’ citations — entirely fictitious authorities generated by AI tools
The Solicitors Act 1974 may still underpin legal regulation, but its age is increasingly showing. Writing in NLJ this week, Victoria Morrison-Hughes of the Association of Costs Lawyers argues that the Act is ‘out of step with modern consumer law’ and actively deters fairness
back-to-top-scroll