The Boston Marathon bombings may cause a surge in the cost of insuring global sporting events, while changing the way organizers manage risk, according to Bob Murphy, global entertainment and events practice leader at Marsh & McLennan Cos.’s Marsh Inc.
“This has absolutely shaken sports industry underwriters,” Murphy said in a telephone interview. “People are asking, ‘Do we even want to underwrite these events? If we do, what are the underwriting data that we need to see to protect our risk? We’re going to have ramifications in terms of limits and pricing.”’
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