Thursday, February 10, 2011

BCCI insures World Cup for Rs 246 crore - Rediff.com Business

BCCI insures World Cup for Rs 246 crore - Rediff.com Business: "Days before the ICC World Cup begins on February 19, the Board of Control for Cricket in India has taken an event cancellation cover, in addition to one against terrorism, with a total sum assured of Rs 246 crore (Rs 2.46 billion).

The event cancellation cover will insure against any disruption due to adverse weather or non-appearance of a team.

The tournament will be held across India, Bangladesh and Sri Lanka and will end on April 2. Of the 49 matches, 24 will be played in India, with the final being hosted by Mumbai.

A senior executive of the National Insurance company said the policy would kick in if BCCI's revenues were affected due to adverse weather. Also, in case of non-appearance of teams, it would not lose out."

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