Podcast

Risk in Context Podcast: As new risks emerge, sports organizations should continue adapting

The 2022 FIFA World Cup is underway, but the most-watched sporting event in the world is far from the only time that organizations in the sports, events, and entertainment sphere need to think about their risk.

Large crowd of football fans clapping hands, supporting their team. Crowd of sports fans watching game at stadium

The 2022 FIFA World Cup is underway, but the most-watched sporting event in the world is far from the only time that organizations in the sports, events, and entertainment sphere need to think about their risk.

In this episode of Risk in Context, Warren Harper, leader of Marsh’s Global Sports and Events Practice, speaks with Richard Tolley, deputy leader of Marsh’s Global Sports and Events Practice, John Copenhaver, the CEO of the Contingency Management Group and a former regional director of the Federal Emergency Management Agency, and Edel Ryan, head of strategic business development within Marsh’s Sports, Entertainment, and Media Practice. They discuss the state of the ever-evolving sports, events, and entertainment industry, and outline the risks that organizations should focus on addressing.

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Key takeaways

The risk profile of major events continues to evolve at a rapid pace.

Risk agenda items that have historically been important to event organizers — such as security and terrorism — remain critical, but there is an increased focus on understanding the often-complicated contractual liabilities between various stakeholders.

Events are often affected by the impacts of global warming.

Human-caused acceleration of global warming is impacting the frequency and intensity of weather events. Mitigation, where possible, is crucial, but crisis management and contingency plans also are often necessary due to the unpredictability of disruptive weather events.

Reputational risk is a major growing concern for sports organizations.

There is an appetite in the insurance world to work with brands sponsoring sports and events. Insurers can help brands protect their investments by insuring the value of an agreement with a high-profile spokesperson or bonus- and incentive-laden contracts for athletes.

About our speakers

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Warren Harper

Managing Director, Global Sports and Events Practice Leader, Marsh

Warren Harper is the leader of Marsh’s Global Sports and Events Practice. Based in Atlanta, Georgia, he is responsible for driving revenue growth and client retention by developing and implementing innovative solutions, including insurance products and risk advisory services.

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Richard Tolley

Deputy Leader, Global Sports and Events Practice, Marsh

Richard Tolley is the deputy leader of Marsh’s Global Sports and Events Practice. His insurance and risk management industry experience includes positions with both insurance companies and brokers, including underwriter, training manager, loss control adviser, risk management consultant and senior relationship officer.

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John Copenhaver

Chief Executive Officer, Contingency Management Group

John Copenhaver is the chief executive officer of Contingency Management Group. He is the former regional director of the Federal Emergency Management Agency. He is based in Atlanta, Georgia.

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Edel Ryan

Head of Strategic Business Development, Sports, Entertainment, and Media Practice, Marsh

Edel Ryan is the Head of Strategic Business Development for Marsh’s Sports, Entertainment, and Media Practice. She has specialized in the media and entertainment sector for over 20 years and has earned herself a reputation in creating innovative solutions for the most unusual of losses.