The fatal pandemic that covers the entire world has weakened world economies. However, in the midst of the crisis, the cancellation of the Wimbledon Championships will not have a severe impact on British tennis, as the All England Club’s pandemic insurance policy has prevented losses.
The insurance policy has prevented the loss of a quarter of a billion pounds (approximately). “We are still in a very good position, which is a strange thing to say when you just canceled the championship, but we are financially very stable.” The AELTC Chief Executive Richard Lewis said. (according to the BBC)
“I am optimistic that the surplus [the annual payment to governing body the LTA] it will be quite well protected and therefore the impact will be somewhat minimized. “
Wimbledon Championship Insurance Policy
Wimbledon has an annual insurance policy. They have paid £ 1.5 million in the last 17 years and the payment in 2020 was over £ 100 million. However, pandemic insurance will not be available by 2021. In addition, there are chances that the largest of the grass court will be held behind closed doors.
“No, that is impossible [to get pandemic insurance] in the current climate ” Lewis said. “However, what I would say about the future is that when I started in 2012, there were some signs that things were not insurable, due to communicable diseases that had taken place like SARS and the swine flu.”
In 2020, the oldest Wimbledon Championships tennis tournament was canceled for the first time since World War II. It was solely due to the coronavirus pandemic. It has devastated the planet with more than half a million people losing their lives.
Also read: “We’ll be back again”: Wimbledon posts emotional video when fans miss championships
