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April 19, 2024
Workers Compensation Bill 2024: One percent of employee’s salary to contribute to workers’ compensation fund in Kenya.

April 15, 2024
Colorado Worker Shows Head Injury Happened as a Consequence of a Knock on the Head at Work

April 4, 2024
Callfornia Division of Workers' Compensation Pharmacy and Therapeutics Committee Meeting Scheduled for April 17, 2024

April 3, 2024
California Division of Workers' Compensation Posts Adjustments to Official Medical Fee Schedule (DMEPOS)

The paperwork is finished and the government officials have signed on the dotted line approving San Francisco’s bid to host the Games of the XXXth Olympiad. The bid is unique because it uses only private sources to pay for the necessary insurance policies.

All along, members of the Bay Area Sports Organizing Committee (BASOC) have pledged to host the games, if chosen, through private funding. BASOC Director Tony Winnicker told adjustercom.com that the move reflects the values of the San Francisco bay area, “Tax money should be used to pay for other areas.”

The bid was due at the United States Olympic Committee (USOC) Nov. 30. Governor Gray Davis signed the bid Nov. 27 and San Francisco Mayor Willie Brown put his signature on the document Nov. 29. “We met the deadline and we are thrilled about that,” said Winnicker. “We’ve got the city and state’s support, although it obviously remains a privately funded Olympic games.”

The BASOC is shopping around for two insurance policies totaling $450 million. One policy will cost $250 million and protect against financial deficit and the other will cost $200 million and protect against unanticipated revenue losses from events such as an earthquake or cancellation.

The total cost of the games is estimated at $1.9 billion. San Francisco will obtain revenues from four sources: media rights, ticket sales, merchandising, and international and national corporate sponsorships.

Three other cities are in the running for the hosting role including New York, Washington and Houston. Winnicker said if San Francisco is chosen the city will be able to create a legacy while protecting taxpayers.

The IOC will announce the host city in 2005.