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Baaz storm stirs cricket insurance
Decembert 03, 2005 - THE ECONOMIC TIMESi

Far from the murky world of cricket betting, the fortunes of another kind of player rest on the uncertainties of the Chennai cricket Test match. With a looming tropical storm keeping most insurers away from offering to cover the match, Oriental Insurance has sold a policy that will entitle the match organisers to claim damages only if not a single ball is bowled for all the five days of the match. Industry circles say the event insurance market is not fully developed in India. Internationally, the covers can be tailor-made in any manner to protect the interests of all those involved. "Internationally it would be possible to split the insurance cover on a daily basis with a graded system where a minimum number of overs are completed after which the day's play is deemed to be completed," said Bhupesh Kumar of Aon Global Insurance Brokers, who specialises in insuring sports and entertainment events.

 

 

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