8 essential types of insurance for the 2018 FIFA World Cup

If historic broadcast television figures are any indication, more than half of the human race has now turned its attention to Russia, where 11 different cities in a country that spans roughly one-sixth of the earth's land mass will host games for the 2018 FIFA World Cup. While soccer fans rejoice in watching the Cup's 64 games played this year from mid-June to mid-July, some employers are reportedly concerned that the distraction could spur a marked dip in worker productivity. According to recent research released by Statistica, the international cities were people are most likely to slack off on the job due to World Cup devotion are:

• Rio
• New York
• London
• Los Angeles
• Paris
• Berlin
• Moscow
• Mumbai
• Shanghai
• Tokyo
• Melbourne

From an insurance industry perspective, should an unexpected event waylay the World Cup, the scale and types of potential losses is staggering. It follows that brokers and agents have reported higher-than-ever premiums for businesses and individuals involved in the World Cup, according to Reuters. The rate hike of roughly 10% over the previous World Cup is largely driven by concerns about terrorism and 'hooliganism.' That news agency reports that the insured value of the World Cup is more than $10 billion. Since the London insurance market plays a crucial role in covering the World Cup, Beazley recently released an infographic that summarizes the event's largest potential losses, as well as the necessary insurance coverage. The results of Beazley's research are summarized in the slides above; the complete infographic follows. [caption id="attachment_131013" align="alignleft" width="838"] Reproduced with permission from Beazley[/caption] See also: Cyber threat looms as unknown March Madness insurance risk PyeongChang Olympics present myriad risks for insurers 6 homeowners insurance tips for Super Bowl party hosts