FIFA Says Insurance is in Place

June 7 - FIFA, the international football body responsible for putting on the greatest soccer festival on earth in South Africa this month, has addressed fears over security and insurance.

The group said that it has covered the event to the tune of $650 million (R5 billion) should unexpected problems crop up that would require the relocation or postponement of the World Cup.

FIFA chose to take a risk and not take out cover in the event of having to call the World Cup off altogether as "even if the event is delayed for any reason, it is extremely unlikely that it would be called off"

Swiss Reinsurance Co. and Munich Reinsurance Co. will be providing the cover.

Security is at an all time high, with speculations that terror groups may choose the World Cup as a time to launch a powerful attack.

However, a security expert for Swiss Reinsurance said that tension before a major event was always high, and that all the necessary precautions are being taken.

"These are threats that are faced by all major events," said Hans JR Steffen. "This threat is not any bigger than those at other, previous events."

Another security expert said that the "location does not necessarily represent any unusual exposures.

"Underwriters' main concerns focus around the infrastructure, terrorism and civil commotion,' said Jonathan Cole of Jardine Lloyd Thompson.

The SA police also addressed the issue and said: "The police force is ready. Police will be everywhere, ready for any eventuality. This is the epitome of our security plan; we will cover every corner because we do not have any no-go areas."