Indian Premier League (IPL), the Indian Professional league which has popularized T20 cricket – the shortest form of professional cricket is back with a bang. The Board of Control for Cricket in India (BCCI) which is the organizing body of the Indian Premier League (IPL) is planning for an insurance cover of Rs 1,100 crore for the 2014 tournament.
IPL is the most-watched Twenty20 cricket league in the world. It is generally considered to be the highest-profile showcase in the world for Twenty20 club cricket. During the sixth IPL season (2013) its brand value was estimated to be around US$3.03 billion. IPL 4th season (2011) was insured for an amount of Rs.750 crore and the IPL-7 is all set to get bumper coverage.
The insurance cover basically covers protection against any loss of revenue due to match cancellation due to any of the reasons such as – bad weather, natural calamities, etc. Speculations are that the risk in this year’s IPL would be higher since the tournament would be held outside India. The tournament will start off in UAE on 16th April and will then continue in either Bangladesh or India.
