Three sold-out Taylor Swift concerts in Vienna, canceled due to an ISIS-related terrorist threat, could wind up costing insurers a lot of money since tickets were sold to 195,000 people
Taylor Swift had to call off planned concerts in Austria’s capital over a terror attack plot, and the cancellations will lead some insurers to cover a hefty amount, according to Reuters. The outlet reported Friday that two unnamed sources "involved in insurance for her tour" said a handful of insurers will see costs associated with the cancellation of the Ernst Happel Stadium shows.
Organizers of large sporting and entertainment events typically buy event cancellation insurance, much of which tends to be insured through the Lloyd's of London market by a consortium of insurers. They often get terror-related cancellation coverage on top of that, according to the outlet. As of Friday, amid the ongoing probe into the terror plot against the three Swift concerts, three suspects have been taken into custody by authorities in Austria. All three were teenagers.
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