French Insured Against U.S. Pullout

Organizers of the 1992 Winter Olympics, which open here a year from today, have taken out insurance with Lloyds of London against the U.S. team pulling out because of the Gulf War.

CBS’ $243-million deal with Albertville will be cut substantially if the Americans do not compete, either because of fears of terrorist attacks or because the war is prolonged.

Jean-Claude Killy, co-chairman of the organizing committee, revealed they had taken out coverage.

“We will not lose money if the Americans do not come, but it means our margin is even tighter,” Killy said.

The Games will cost up to an estimated $800 million.