Wimbledon organizers were paying for pandemic insurance since 17 years and now because of the Covid 19 breakout they have got a payout of $141 million

Its difficult to see the good in anything with worries of coronavirus and its perpetual spreading haunts us. However, some people may actually have a lot to gain from this; something more tangible than personal gains like spending time with family, reconnecting with oneself or developing hobbies and personal interests. The All England Lawn Tennis Association (AELTC) had to cancel all plans for the game due to the global coronavirus pandemic. This, however, has not completely landed them in a soup, rather its the opposite of it. Wimbledon organizers will receive a massive insurance payout after the coronavirus pandemic forced the cancellation of the major tennis tournament. They learned their lessons well after the SARS outbreak in 2003. This led to the Wimbledon organizers adding a pandemic insurance clause; the pandemic insurance policy will pay out an estimated $141 million following the decision to cancel Wimbledon. The All England Lawn Tennis Club has purchased pandemic insurance for 17 years at a cost of roughly $2 million per year. All that preparation will finally pay off this year. It’s a good thing they decided to cancel it instead of postponing as they would have been unable to receive the payout. But obviously they knew that!

A spokesperson said, “The All-England Club has always sought to buy the optimum insurance coverage available.” many have followed suit and apparently, the recently canceled 2020 British Open is also covered by pandemic insurance. Wimbledon was scheduled to run from June 29 to July 12.

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[Via: Fox Business]

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With over 15 years of experience in luxury journalism, Neha Tandon Sharma is a notable senior writer at Luxurylaunches. Her expertise spans luxury yachts, high-end fashion, and celebrity culture. Beyond writing, her passion for fantasy series is evident. Beginning with articles on women-centric gadgets, she's now a leading voice in luxury, with a fondness for opulent superyachts. To date, her portfolio boasts more than 2 million words, often penned alongside a cappuccino.