This insurance thing is really just designed to lower the city contribution on paper.
The city is not meaningfully impacted by a 200 million dollar overrun on the Olympics. It can easily be accommodated within the city budget. The real concern would be the 1 billion dollar or more over run which no one is contemplating insuring around. What really is happening here is that the city did not want to include this contingency money in the bid.
If you don’t believe the insurance is credible than assume a 570 million contribution by the city. If the feds are covering any inflation in security costs than the biggest unknown unknown item is off the table and the bidco estimate is probably reasonable.
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