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National Insurance bags a whooping insurance for ODI Cricket of Rs 5.80 Crore

Last Updated: Jan 13, 2013 | 1739 Views
In order to overcome any unforeseen event, the Saurashtra Cricket Association have taken the insurance cover for first one – day international cricket match between India and England for Rs. 5.80 crores from National Insurance Company. This insurance would cover risk pertaining to cancellation of cricket match, advertisement on the ground and on account of any injury to the audience. 

National Insurance Company (NIC) was incorporated on 6th December 1906 at the height of the country’s nationalist Swadeshi movement as an expression of the Indian aspiration to establish a strong indigenous Company even in the midst of foreign rule. Today 106 years after its incorporation, 37 years after its nationalization and 10 years after its delinking from GIC, NIC stands tall as  the Oldest insurance company in India and the only Company among 24 life insurance and 27 non-life insurance companies to be headquartered in the Eastern part of the country.

Out of the above insurance of Rs. 5.80 crores, Rs. 2.50 crores is towards match cancellation, Rs. 1.50 crores for audience injury and Rs. 1.80 crores is for advertisement on the ground.
An Official from Saurashtra Cricket Association said that though they don’t expect any unforeseen event to occur, but this being the 1st match to be played on this new ground, they do not want to take any risk and hence has decided to insure the match. He further added that, “This is the 1st cricket match that will be played on newly built cricket stadium in Rajkot and hence we have taken insurance from National Insurance Company for India – England match for an amount of Rs. 5.80 crores.

The 1st one day international match is going to be played on this newly constructed ground on 11th January 2013, all the tickets of which has been sold.

The newly built stadium which was inaugurated by Chief Minister of Gujarat – Mr. Narendra Modi, is spread over 5.50 lakh square feet area on the Rajkot – Jamnagar highway, near Khandheri, is constructed at a cost of Rs. 75 crores. 

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