The 13th edition of the IPL may have been able to rope in sponsors in the wake of the ongoing pandemic but there is no cover for a potential mishap as there will be on insurance cover in case a fixture is abandoned due to Covid-19 complications.
In the wake of the ongoing pandemic, the sporting events insurers have excluded communicable diseases like coronavirus from the list. Other events like Soccer and international cricket in England have also abided by the same rule. The rule was also in effect in the recently concluded US Open.
In normal circumstances, all matches are covered by compensation in case of an abandonment due to natural calamities. All IPL franchises have their own insurance agencies and premiums are in the range of Rs 3-5 crore.
An official on the condition of anonymity was quoted as saying by Sportskeeda-
“Since Covid-19 is not an unforeseen eventuality, even insurers have stopped offering compensation for all communicable diseases.”
No increment in premium for IPL 2020
It is also understood that the insurance premiums of the IPL franchises have also not increased despite the tournament taking place on foreign soil as the industry experts feel that the chances of unforeseen disruptions are less in the United Arab Emirates.
Insurance agencies consider a match to be abandoned if not even a single delivery has been delivered in the game. In that case, the home side is compensated with gate receipts while both the contesting teams receive an equivalent share of the broadcast deal for that particular match.
The 13th edition of the cash-rich Indian Premier League will kickstart at the Sheikh Zayed Stadium in Abu Dhabi when defending champions, Mumbai Indians, lock horns with three-time winners, the MS Dhoni-led Chennai Super Kings.