Insurers fret over militant attacks, AI hacks at Paris Olympics

LONDON : Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims.

Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the COVID-19 pandemic.

Since then, wars in Ukraine and Gaza and a spate of elections this year, including in France, have driven up fears of politically-motivated violence at high-profile global events.

The Olympics take place in Paris from July 26-Aug 11 and the Paralympics from Aug 28-Sept 8.

German insurer Allianz is insurance partner for the Games. Other insurers, such as the Lloyd's of London market, are also providing cover.

"We are all aware of the geopolitical situation the world is in," said Eike Buergel, head of Allianz's Olympic and Paralympic programme.

"We are convinced that the IOC (International Olympic Committee), Paris 2024 and the national organising committees, together with the French authorities, are taking the right measures when it comes to challenges on the ground."

The possibility of Islamist attacks are the top security worry for the Games, the Paris chief of police said last month.

"It's such a large event ... in a very large city, which in itself is quite difficult to police," said Andrew Duxbury, head of contingency at insurer Beazley.

France has said it would move its opening ceremony from the River Seine if a specific security risk was confirmed.

A man was arrested in May in the French town of Saint-Etienne, suspected of planning an attack in the name of Islamic State at the city's soccer stadium during the Olympics.

Adam Carrier, head of consulting at crisis management consultancy AnotherDay, said such incidents "demonstrate that the threat