ICC CWC and IPL IV Insured for Roughly USD180m Each

February 10, 2011

The International Cricket Council’s (ICC) and BCCI flagship events, the Cricket World Cup and IPL IV are being insured for similarly huge figures. Between the BCCI and ICC broadcast rights holder ESPN Star Sports, the total sum assured for CWC 2011 is a reported US$185m while for IPL IV it is in the region of $175m.

According to pink paper Business Standard, the BCCI has taken an event cancellation cover, in addition to one against terrorism, with a total sum assured of $53.8m. The sum assured includes a separate $27m policy for protection against terrorist attacks. 

The policy would kick in if BCCI’s revenues were affected due to adverse weather. Also, in case of non-appearance of teams, it would not lose out, a senior executive of the National Insurance Company told BS.

As for IPL IV, ESPN’s SportsCenter reports that the media rights alone would be getting an insurance cover of $109m while sponsorship rights will get an umbrella of $42.2m along with other insurance covers.