Insurance for Indian Cricket Players

Indian Cricket Players Insured

The BCCI has insured the Indian cricket players for a coverage amount of Rs 2.3 crore per player. The Team India cricketers will be covered under a group personal accident policy for the World Cup, 2011.

The World cup which is scheduled from 19th February to 2nd April is this year’s biggest sporting event. The group insurance policy provided by Oriental Insurance Company (OIC) will be in force for these two months. In case of an unfortunate incident resulting in death, total disability, temporary total disability or permanent partial disability of any player or a support staff member, the policyholder will get the monetary sum assured. This will cover any injuries that are sustained on and off the cricket field. The insurance policy can also be invoked if the insured becomes victim to or sustains any injury due to a terror attack.

An official from the OIC said, “The policy is in accordance with the guidelines laid down by the International Cricket Council.”

Reena Bhatnagar, Deputy General Manager, OIC, said, “The BCCI has purchased the group personal accident policy worth Rs 2.3 crore or $ 500,000 for each player for the period February 10th to April 9th.”

Negotiations are underway and the board is likely to finalize the policy in a few days.

Apart from this policy, BCCI has purchased another policy from National Insurance Company, at a premium amount of Rs 1 crore. This policy will cover the board against any monetary losses in case a match is cancelled due to bad weather. The criterion is that the match should be cancelled without a single ball being bowled.

ESPN has also taken an insurance policy at a premium amount of Rs 9 crore, to cover itself against cancellation of cricket match due to terror acts and adverse weather conditions. The official broadcaster of the World Cup, 2011 is covered for a whopping Rs 600 crore.

Earlier in the 1996 World Cup match, each player was insured for Rs 10 Lakhs. With increasing viewership, cricket in India only seems to be getting bigger.

Cricket viewership in India is growing at an exponential rate. With World Cup being the most sought after events by sponsors, there are huge monies at stake. Insuring grand events like these, not to mention the Indian Cricket players, has become a necessity for everyone involved.