Oriental Insurance cover for BCCI tri-series

The Board for Cricket Control in India (BCCI), the sole organiser of the tri-series starting in Malaysia tomorrow, has bought a Rs 15.18 crore cover. India, Australia and West Indies are playing in the tournament, DLF Cup.

The event cancellation cover has been taken from Oriental Insurance at $3.30 million (Rs 15.18 crore) for the seven matches to be played between September 12 and 24. Oriental Insurance's liability for each match is about Rs 2.17 crore. This is the first instance of BCCI insuring a match outside India.

Publicity agency Percept Demart International, responsible for publicity within the stadium, has also taken a cover from Oriental Insurance for the tournament. The sum insured is $5.5 million (Rs 25.30 crore). Here too, Oriental Insurance will be liable only if not a single ball is bowled.

"Till now it was the host country that used to take insurance. In this case, BCCI is solely organising a cricket tournament outside India. We have taken a cover for the running expenses of the tournament in case of event cancellation," said BCCI Secretary Niranjan Shah.

BCCI has insured the cost of event, production (electronic media for broadcasting the match) as well as gate collection. The cover is a "one-ball bowled cover" where the claims will be paid only if not a single ball is bowled.

The event cancellation cover insures the match against cancellation due to rain, storm, earthquake, flood, fire, riot, strike, malicious damage, Act of God and terrorism, said VN Bhargava, deputy general manager of Oriental Insurance.