IPL insured by BCCI
The sole insurer of the much-hyped Indian Premier Leauge (IPL), state-owned Oriental Insurance Company Ltd today said it expects about RS.3 crore as premium from BCCI for the second season of the IPL.
route. Oriental Insurance Co. Ltd will cover every match for Rs7 crore; this will include broadcasting interests, sponsorship losses and budgeted expenses of the match. Terror cover would be a part of the comprehensive cover, which will cost the organizers less than Rs1 crore in premium.
The premiums have gone up in the range of 5-10 per cent depending on international conditions and reinsurance charges. The reinsurer for Oriental Insurance is the UK-based Lloyd's. Insurance companies distribute the risk on large covers by going in for re-insurance. Of the 8 teams playing in IPL beginning on April 18 in South Africa, the sum assured and the premiums vary from players to players. Concerned at the security of the cricket teams, the Board of Control for Cricket in India (BCCI) shifted the second edition of the event to South Africa.
MS Dhoni attracted the highest individual insurance cover of $10.5 million, or Rs 52 crore, as the eight IPL team owners finalised policies for all 120 auctioned players against personal accidents, mediclaim and baggage losses with Oriental Insurance Company (OIC) for a total cover of $286 million, or Rs 1,340 crore.
The policies will be effective from the time the players leave for the tournament till they return home.
route. Oriental Insurance Co. Ltd will cover every match for Rs7 crore; this will include broadcasting interests, sponsorship losses and budgeted expenses of the match. Terror cover would be a part of the comprehensive cover, which will cost the organizers less than Rs1 crore in premium.
The premiums have gone up in the range of 5-10 per cent depending on international conditions and reinsurance charges. The reinsurer for Oriental Insurance is the UK-based Lloyd's. Insurance companies distribute the risk on large covers by going in for re-insurance. Of the 8 teams playing in IPL beginning on April 18 in South Africa, the sum assured and the premiums vary from players to players. Concerned at the security of the cricket teams, the Board of Control for Cricket in India (BCCI) shifted the second edition of the event to South Africa.
MS Dhoni attracted the highest individual insurance cover of $10.5 million, or Rs 52 crore, as the eight IPL team owners finalised policies for all 120 auctioned players against personal accidents, mediclaim and baggage losses with Oriental Insurance Company (OIC) for a total cover of $286 million, or Rs 1,340 crore.
The policies will be effective from the time the players leave for the tournament till they return home.