Sachin Tendulkar, the captain of Mumbai Indians, may miss Sunday’s Indian Premier League (IPL) final against Chennai Super Kings owing to injury and yet get Rs 50 lakh. That’s because his team management has purchased an insurance cover that, among other things, includes loss of income to a player due to injury.
Oriental Insurance Company, which is the insurer for the Indian Premier League, has separately provided such a cover to the Mukesh Ambani-controlled cricket team.
Tendulkar, who turned 37 today, couldn’t have asked for a better birthday gift. In the semi-final against Vijay Mallya’s Royal Challengers Bangalore, Tendulkar had hurt his finger while attempting a catch from Rahul Dravid in the slips. But the ball had touched the ground, replays showed, and Dravid was given not out. Tendulkar had to leave the field for treatment.
Cricket experts say that Tendulkar, the highest run scorer in Test cricket as well as the one-day format of the game, holds the key to tomorrow's Twenty20 game when Mumbai Indians takes on Chennai Super Kings led by India captain Mahendra Singh Dhoni. He is the highest run getter in this edition of IPL. The batting great is widely credited for building a team of young cricketers who have played a key role in taking Mumbai Indians to its first IPL final in three attempts.
Some other teams too have opted for a loss of income cover in IPL 3. For instance, Delhi Daredevils, King’s XI Punjab and Royal Challengers Bangalore have insured their key players, with the first two insuring four players each. The names of these players, however, could not be ascertained. At the same time, Deccan Chargers and Chennai Super Kings have not insured any of their players under the loss of income policy.
In case Tendulkar is unable to play the crucial match due to injury, it will be the first instance of a claim for loss of income being paid in IPL. “Loss of income policy is a little expensive cover and all franchises have not taken it. This is the first season when key players are insured against not playing due to injury,” said a source privy to the terms of the policy. The premium for the cover varies between 1.25 per cent and 1.75 per cent of the sum assured.
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Already, Tendulkar’s injuries are going to cost the public sector insurance company around Rs 2 lakh. The cricketer will be reimbursed under the personal accident cover, which is taken by the franchise for all players.
For the moment, it is not just the fans and Chennai Super Kings which are keeping a close eye on the batting maestro’s health — even Oriental executives are keeping tabs on the injured finger.