Ryan negotiates insurance for Chicago 2016

August 13, 2009 3:05:52 PM PDT
The chief organizer for Chicago's 2016 Olympic bid is using his long experience in the insurance industry to protect taxpayers from cost overruns.Patrick Ryan retired as chairman of Aon last year.

He tells Bloomberg.com that he's having a ball negotiating with insurers and trying to get the best deal on insurance against overruns. Ryan says donors will step up to pay the premiums.

The announcement on which city gets the games will be made October 2 in Copenhagen, Denmark.