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As featured on NewsNow: Football news

Insurance companies clean up at World Cup

Lloyd's of London has estimated that the insurance for the 2010 World Cup in South Africa will be over £6.2 billion, reports euFootball.BIZ FIFA, various national teams, broadcasters and other agencies and individuals with a stake in the month long tournament have taken out insurance policies.

Around £3.2 billion has been spent on insuring stadiums and training facilities.

Sportscover's, underwriter Chris Nash says, "Competitions, offers, prizes, sponsorship, broadcast rights - it's impossible to know how many there are, but all companies with these financial implications need coverage."

According to a Lloyd's spokeswoman indirect implications includes everything from retailers offering deals if a particular team wins the Cup to issues like broadcasting problems stemming from match delays.

"If the opening ceremony is delayed, that will affect the broadcasters, because they've got their advertising slots in place.

"Similarly, if the final has to be delayed for whatever reason, people might want money back for their tickets."

This estimate does not include the value of insurance policies taken out to cover a named player's illness or injury.

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