MUMBAI: showers off-season and the July 13 serial blasts in Mumbai have led to the Mumbai Cricket Association (MCA) to buy insurance coverage for R 9 crore to India, England, d one day international at the Wankhede Stadium on Sunday.
Sources said that the CRM pay a premium of 5 lakh rupees in a special contingency policy for the cancellation of events in the East insurance company (OIC). The policy protects against financial loss due to MCA cancellation of games due to bad weather, natural disasters, incidents of terrorism or the abandonment because of the death of a prime minister or president. The association of cricket can not claim compensation if a ball was shot before the game was suspended.
"The roof of the India-England ODI is higher at Rs 1 Crores as compared to the political party for the series India-Australia bilateral DI Patil Stadium November 11, 2009," he added.
The match between India and Australia was abandoned without a ball rolled due to incessant rain. A source said: "There was an increase in the premium market reinsurance in at least 40% in the last six months. The insurance company that provides local coverage of these events have to peg rates premiums with those prevailing in the reinsurance market. "
India is bracketed in the category "extreme risk" of terror in the index of the reinsurance market. The history of the country in the index of terror has further tarnished after the July bombings in Mumbai in July and a bomb explosion outside the Delhi High Court last month.
Last week, the Anti-Terrorism Squad received a warning of plans for the purpose of Chhatrapati Shivaji International Airport on the eve of Independence Day. Leandro Diaz, Administrative Officer of the OIC, said: "We can not disclose financial details of the media as these are confidential matters."
Apart from terror, rain is a major concern for administrators of cricket. The first of the monsoon withdrew from Mumbai in recent years was October 7, 2005. He retired as late as October 24th of last year.
An insurance officer, said, "MCA is cautious about the weather as the rain refuses to disappear. They do not want to take chances as the match between India and Australia had met a similar fate."
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Article Source:- http://timesofindia.indiatimes.com/city/mumbai/Rs-9-crore-insurance-cover-for-Sundays-ODI/articleshow/10446239.cms
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