Lloyd's broker Swinglehurst confirmed this week that it had placed ¤200m (£133m) of third party liability cover on behalf of the Athens 2004 Organising Committee.
A Swinglehurst spokes-man said that the cover had been placed both in Lloyd's and the company market.
Earlier this year, the International Olympic Committee (IOC) said it had secured $170m (£94m) worth of cancellation coverage for this summer's games through its broker Marsh.
This means the Athens Olympics will be the first games to have cancellation cover.
The IOC said similar coverage would be purchased for future summer and winter games, including the Turin games in 2006, the Beijing games in 2008, and the Vancouver games in 2010.