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BCCI is trying to get an insurance cover of Rs. 900 crores for the upcoming Indian Premier 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.