BCCI seeks insurance cover of USD180m

The Board of Control for Cricket in India (BCCI) is seeking insurance cover of USD180 million for the seventh edition of the Indian Premier League (IPL) cricket tournament in the country.

The insurance cover for IPL protects BCCI, the national governing body for all cricket in India against any loss of revenue on account of cancellation of any match for reasons beyond its control, such as terrorism, bad weather, natural calamities and strikes, reported the Business Standard.

In comparison, the Commonwealth Games held in India in 2010 were insured for INR2 billion while the Formula One motor race was insured for INR5 billion. The IPL season will start on 16 April and end on 1 June 2014.