10 Things to Know About Entertainment, Sports & Special Events

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  1.  The average cost of a wedding in 2012 was $25,656 (Travelers)
  2.  The average wedding insurance premium for a $25,000 wedding ranges from $320 to $420 (Reuters, Travelers)
  3. 24 percent of wedding insurance claims in 2012 were related to vendor problems; 19 percent came from illness and injury; 15 percent of claims were attributed to venue issues; and 14 percent of claims came from weather-related mishaps (Travelers).
  4. Munich Re estimated that cancelling the London Olympics due to a security threat, such as terrorism, would have cost more than $4.9 billion (Reuters).
  5. The city of London budgeted $14.8 billion for the Olympics
  6. British reinsurer Pool Re, which covers terror attack-related commercial property losses, had $7.327 billion of assets to cover the 2012 London Olympic games (Reuters).
  7. Over 6 million individuals participated in the winter sports of snowmobiling, snowboarding and ice skating in 2010 (Big “I”).
  8. Biking is considered to be the most dangerous sport based on estimates of injuries treated in hospital emergency departments, with 677 bicyclists and other cyclists killed in 2011 and 48,000 injured in motor vehicle traffic crashes (Big “I”).
  9. World Wrestling Entertainment (WWE) made a gift of $1.2 million over three years to the Sports Legacy Institute to help develop a treatment for chronic traumatic encephalopathy (CTE), which has been diagnosed in patients exposed to repeated brain trauma, including athletes. (Associated Press).
  10. The most common event claims are related to slip and fall and assault & battery (ALIVE Risk, a division of NAS Insurance Services).

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