Boston Olympic officials say bid comes with ‘unprecedented’ insurance
Boston 2024 chairman Steve Pagliuca speaks during the release of the Boston 2024 Partnership’s updated plans for the Olympic and Paralympic games at the Boston Convention and Exhibition Center on June 29.
Faced with continuing pressure from opposition groups, the committee that hopes to bring the 2024 Summer Olympics to Boston has unveiled a risk-management plan it says will safeguard taxpayers from cost overruns.
The information released on Thursday included an insurance package that Boston 2024 officials say will provide “unprecedented†financial protection.
“I can say with certainty that Boston will have the most insured Games in Olympic history,†said Steve Pagliuca, the committee’s chairman.
Not everyone seemed to agree.
“Boston 2024’s proposed insurance has Olympic-sized gaps,†a group called No Boston Olympics said, calling the release “a sales pitch is an attempt to distract from the significant risk associated with an Olympic bid.â€
Last winter, Boston edged out Los Angeles to be the sole American bidder for 2024. Since then, the campaign has suffered from low public support.
The U.S. Olympic Committee has until mid-September to submit a host candidate but could decide to skip the bidding process or switch to another city at the last minute.
The International Olympic Committee is scheduled to pick a host in 2017.
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