Could the Olympics drive up the price of Commercial Insurance?

Olympics public liability

The Olympics are a huge event that takes place once every 4 years. Needless to say, every time they occur the world becomes captivated by the display of athleticism and competition. The latest Olympics (although delayed by a year) are the Tokyo 2021 Olympics taking place in Japan. With the Olympics being such a big event, there’s a chance for public liability and employer liability issues.

How could the Olympics change my insurance cost?

Businesses mainly purchase commercial combined insurance. This is a type of insurance that has a wide reach with the ability to cover a company from a multitude of issues. Although useful for businesses, with how varying this insurance is it could easily raise in price from a large event such as the Olympics taking place.

For example, car insurance costs change yearly if a driver has been in an accident. In a similar vein, commercial insurance could very well increase if more companies involved in the Olympics start making claims on their insurance. Specifically, the likely parts to be claimed from commercial insurance are public and employer liability insurance.

What is Employer’s Liability Insurance?

Many people find themselves wondering; what is employer’s liability insurance? Employer’s Liability insurance is a type of insurance that exists to help cover companies if injuries happen at the workplace. With the Olympics taking place, it’s natural that there may be many injuries or accidents that happen at work. The Olympics causes an increase in workflow for companies all over the world. From press to sports, to even insurance like us, there’s a variety of companies, small or large, involved in the games and this could lead to a huge increase in employer liability.

What is Public Liability Insurance?

What is Public Liability insurance? Well, Public Liability Insurance is insurance that protects your company if anything you do could potentially cause damage to people who are not employed by you. As mentioned before, the games span a huge number of industries and could cause serious issues. With so much public interaction happening during the games, there’s a chance that public liability could even rival employer liability. This could become a huge issue if companies involved in the games are not mindful.

Does this mean I shouldn’t get Employer or Public liability insurance?

Short answer; no! Although the Olympics has the chance to raise the prices of commercial combined insurance, all businesses must have it. If companies are found to be liable, whether public liability or employer liability, they could be paying out huge sums of money if not correctly covered. Further, though public liability and employer liability are two huge facets of commercial insurance, it covers a whole wide range of insurances.

How we can help!

At Trevellyan Insurance Brokers, we want to help businesses not be at fault, insuring with us today can help you keep you secure and safe in your hands. We make sure that you are covered and also keep you insured.

As brokers, we can help you find a policy that is at the best price.

We can offer you a quote that is suitable for you and right for your business.

Contact us today on 0207 537 6603 or leave us an email at

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