Beijing Olympics buys major insurance package for 2008

BEIJING: The Beijing Olympic committee has purchased a major insurance package to guard against liabilities resulting from the 2008 Games, state media said on Thursday.   

The committee signed the policy Wednesday with the PICC Property and Casualty Co, China's largest non-life insurance company, the China Daily reported. It did not give the value of the policy.   

The policy will be effective from January 1, 2007 until the conclusion of the 2008 Paralympic Games and covers risks ranging from food security to venue safety, according to the paper.