IPL 5 seeks an insurance cover of 900 crores

01 Mar 2012, 06:30 PM     1502 Views | Comments

 

BCCI is trying to get an insurance cover of Rs. 900 crores for the upcoming Indian Premier Indian Premier League IPL 5 insurance cover League ( IPL). This is huge!

 

The policy will cover the potential loss in revenue through event cancellation due to un-controllable reasons like natural calamities, terrorism, bad weather etc. The amount of cover sought is more than what was take for the Cricket World Cup held in India, The Commonwealth Games or even the Formula 1 race held in Noida.

 

  • World Cup Cover – 750 crores
  • Commonwealth Games Cover – 200 crores
  • Formula 1 Race cover – 500 crores

 

Public Sector General insurance companies like National, New India, Oriental and United India are expected to provide these covers. Or it could be shared between some of them.

 

The premium is expected to be in the range of Rs. 10 crores.

 

 

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