With the Games just 12 days away, it is now not going to be an easy task for the organisers to finish acquiring the insurance covers especially after the reinsurer Llyod's Syndicate on Monday, Sep 20 withdrew following the Sunday, Sep 19 Jama Masjid firing, in which two Taiwanese were shot and injured.
"The reinsurer withdrew the terror cover to the Games. Right now there is no event-cancellation cover due to natural calamity, as we will have to renegotiate terms with the reinsurer to work out a new policy," said Akhilesh Jain, the Vice-Chairman of Trinity Group, which has to arrange for insurance cover of the CWG.
The Organising Committee (OC), which is now facing fire over the sorry state of Games Village and infrastructure, had sought an insurance cover of Rs 750 crore in the event of cancellation of the CWG.
The cover, if acquired, would compensate for any loss arising from cancellation due to a natural calamity, like earthquake, floods or riot, and terror attacks.