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Updated on: Friday, April 10, 2020, 07:28 PM IST

How All-England Lawn Tennis Association got bumper returns on insurance premium

Looks like another year before we see these two play on grass | Wimbledon - Instagram

Looks like another year before we see these two play on grass | Wimbledon - Instagram

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While the world may be suffering from the economic depression that has arisen from the lockdown caused by the novel coronavirus, COVID-19, the All-England Lawn Tennis Association has turned out to be the biggest gainer.

The Association, which hosts Wimbledon every year, has reportedly been $2 million (Rs 15.17 crore) every year for the past 17 years for pandemic insurance. As a result, with the tournament getting cancelled, Wimbledon isn’t at a loss. Insurance agents will be paying the All England Lawn Tennis Association $141 million (Rs 1,069 crore) as insurance money.

The tweet was shared by Darren Rovell, who is in the ‘business of sports betting’.

A lot of people have laughed at the irony, given that most nations have not prepared for a pandemic despite Microsoft CEO and co-chair of the Bill and Melinda Gates Foundation, Bill Gates, warning that the world wasn’t ready to deal with a pandemic in 2015.

Notably, insurance companies in India have included COVID-19 insurance in their policies, following the outbreak. Even those who have existing policies have received messages saying that they will be covered for coronavirus.

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Published on: Friday, April 10, 2020, 11:56 AM IST
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