Rs 25 cr kidnap and ransom cover for IPL-2

MUMBAI: The flavour of the Indian Premiere League goes no bounds. The spectators may feel disappointed; some may lose this way or the other if the cash-rich league gets suspended due to any reason. But the organisors are sure to get some money. A kidnap and ransom amount of Rs 25 crore is a new feature of the record insurance cover of Rs 2100 crore for IPL-2.
Reena Bhatnagar, deputy general manager of Oriental Insurance, who have been the BCCI's long-term insurers, said, "In recent years terrorism cover has been added to cricket insurance.Now it is kidnap and ransom."
Last year the insurance cover was Rs 1800 crore. The enhanced amount could also be owing to an appreciation in the value of the dollar since the last IPL almost Rs 10.
The break-up of the insured amount is:
Emergency mediclaim/baggage/death in service:Rs 1625 cr.
Standalone terrorism for 59 matches: Rs 410 cr.
Kidnap and ransom: Rs 25 cr.
Sponsorship and advertisements for franchisee:Rs 500 crore.
Baggage for franchisee:Rs 3.6 cr.
Group personal accident for franchisee: Rs 125 crore.
Leander Dias, administrative officer of Oriental who has been co-ordinating for Oriental since the 1987 Reliance World Cup, when they were first contracted by the BCCI, says the record insurance cover for an ODI remains Rs 21 and for a Test match Rs 12 crore both by Jaipur.