IOC seeks insurance compensation for delayed Tokyo Olympics

GENEVA (AP) — The International Olympic Committee is in talks with insurers over compensation for the postponed Tokyo Games. Olympic operations director Pierre Ducrey says there is “an open discussion” between the IOC and insurance brokers “to try and find the right level of compensation to help us bear the cost of having to wait another year.” The IOC pays for insurance against the cancellation of an Olympics but it is unclear if its policy covers a one-year postponement. Cancellation policies detailed in IOC accounts cost $14.4 million for the 2016 Rio de Janeiro Olympics and $12.8 million for the 2018 Pyeongchang Games.