An "open discussion" is under way with insurance brokers, the IOC's Olympic Games operations director Pierre Ducrey said Thursday. The aim is "to try and find the right level of compensation to help us bear the cost of having to wait another year," Ducrey said.
Cancellation policies detailed in the IOC's annual accounts cost $14.4 million for the 2016 Rio de Janeiro Olympics and $12.8 million for the 2018 Pyeongchang Winter Games. Costs for organizers in Japan are expected to reach billions of dollars, with most of the bill paid for by taxpayers.The complex of more than 5,600 apartments in Tokyo Bay is "a fundamental piece of being able to deliver the games," Ducrey said during an online conference with sports management students in India.
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