Taylor Swift’s Terror Threat-Canceled Concerts Could Lead to Major Costs for Insurers-hieu

Swift was expected to perform for 195,000 over three nights

Former Boston Police Chief Daniel Linksey weighs in on the Taylor Swift concert suspects who planned to drive a bomb into the crowd.

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.

Swift is popular among insurers because she rarely cancels concerts, a third insurance source told Reuters. Her celebrity and success mean that most specialist event cancellation insurers in London would be involved in covering her tour, one of the sources said.

The sources declined to be named, citing client confidentiality.

taylor swift onstage in arizona

TAYLOR SWIFT FANS DRIVE NEW TRAVEL TREND OF ‘GIG TRIPPING’: HOW DOES IT WORK?

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.

Marcos Alvarez, managing director for global financial institution ratings at Morningstar DBRS, said losses from the cancellations could be in the tens of millions of dollars.

taylor swift in london

Alvarez said insurance losses were likely to be limited by the fact that the concerts could be rescheduled.

The coverage was structured so that insurers would not be on the hook for a full cancellation of the tour, said Andrew Colcomb, head of syndicate research at Argenta Private Capital.

THE ‘SWIFT LIFT’: HOW TAYLOR SWIFT IS BOOSTING THE ECONOMY

Taylor Swift launched her wildly popular Eras Tour showcasing songs from her large music catalog in March 2023, with each show drawing massive numbers of fans. The international leg began last August.

The show saw some changes in May, when she began incorporating music from her newest album, “The Tortured Poets Department,” into the program.

Pollstar projected late last year that the tour, which has shows in London scheduled later this month and in the U.S. in October, could wind up grossing $2.165 billion.

Taylor Swift | The Eras Tour - Tokyo, Japan

Between November 2022 and November 2023, the Eras Tour grossed $1.04 billion, according to Pollstar.

The success of her tour has helped make Taylor Swift a billionaire. Forbes said her current estimated net worth is $1.3 billion.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The Eras Tour has also been the subject of a record-setting concert film, “Taylor Swift | The Eras Tour,” that came out in mid-October 2023

Reuters and Fox News Digital’s Greg Norman contributed to this report.

Related Posts

“¡Impactante! Linet Puente Desata su Furia y Hunden a Pedro Ferriz: ¿Qué Comentarios Ofensivos Hizo Contra Daniel Bisogno que Despertaron su Ira?”.ahoai

 La famosa presentadora Linet Puente saltó en defensa de su compañero Daniel Bisogno pues decidió responder de forma contundente a Pedro Ferriz Hijar, quien lanzó fuertes insultos en contra del ‘Muñeco’ tras…

“¡Alarma en Televisa! Productor Sufre Preinfarto Durante Evento – ¿Qué Causó la Emergencia y Qué Reveló Gaby Spanic Sobre Su Estado de Salud?”.ahoai

El reconocido productor de Televisa y presentador, Rodrigo Fragoso, hace un par de horas causó un gran impacto durante importante evento de relaciones públicas, al haber sufrido un preinfarto, mientras que…

“¡Inesperado! Actor de Televisa, Tras Delicada Cirugía, Lucha por Su Futuro: ¿Qué Significará Esto Para su Carrera y su Vida a Su Edad?”.ahoai

Un reconocido actor de Televisa, quien en los últimos años ha tenido dificultades para encontrar trabajo, dejó en shock a sus seguidores y a los miembros de la…

Karoline Leavitt’s Heartfelt Wedding Reveal: Fans React to Her Age-Defying Love Story with Nicholas Riccio Karoline Leavitt, the 27-year-old former White House press secretary under President Donald…

“¡Alarma en Televisa! Lupita D’Alessio Hospitalizada de Emergencia al Llegar a Ciudad de México – Triste Noticia Expuesta en Venga la Alegría, ¿Qué Está Pasando Realmente?”.ahoai

Desgraciadamente, hace un par de días se informó que hospitalizaron a Lupita D’Alessio, justo después de que llegó a la Ciudad de México, teniendo que cancelar algunos de…

“¡Escándalo en ‘La Casa de los Famosos All Stars’! Dania Méndez Golpea a Alejandra Tijerina y Lo Celebra Entre Risas – ¿Qué Realmente Sucedió Detrás de Este Violento Encuentro?”.ahoai

En medio de sus peleas y discusiones, Dania Méndez acaba de recibir cientos de críticas, y alguna que otra felicitación, por haber golpeado a Alejandra Tijerina, una de sus mayores…