IPL 2024 Insurance No loss to the franchise if IPL match gets postponed or canceled due to rain, players get injured

IPL 2024 Insurance: The teams of Mumbai Indians and Rajasthan Royals were face to face in the IPL on Monday. Rajasthan won this match by 9 wickets. This match ended quite late due to rain. Actually, while chasing 180 runs, when 6 overs of Rajasthan's innings were completed then suddenly it started raining. Due to this the game was stopped for about half an hour. Then it seemed that the fans would not be able to fully enjoy this match. Although this match did not fall due to rain, many matches in the history of IPL have been canceled due to rain. Do you know that even if an IPL match or the entire tournament is cancelled, the franchise does not suffer any loss at all.

Yes, this is absolutely true. Now you must be wondering how this happened, so let us tell you in details. In fact, just as people get insurance for the treatment of disease, for car and bike or for expensive mobile phones, similarly IPL is also insured. This year also IPL is insured.

Alliance Insurance Brokers has insured this world's largest franchise league. As the popularity of IPL has increased year after year. Similarly, the price of IPL insurance has also increased. Due to the increased fees of cricketers in IPL 2024 as well as the increasing number of losses due to player injuries, the insurance premium for player-related covers has been increased by 20-25% compared to last year.

Shaista Walji, Associate Director, Alliance Insurance Brokers, the company that underwrites the IPL, said in a press release issued to the media, “We are extremely thrilled and excited to be an important part of another season of the IPL. We are committed to supporting the growth and development of the IPL.” We thank all the concerned shareholders who made this journey memorable. The financial risk in IPL 2024 is estimated to be around Rs 100 crore to Rs 125 crore. , which is enough to show the financial fluctuations. For this, there is a need to increase risk management at a better level.

He further added, “Also, a large part of IPL insurance includes event cancellation insurance and IPL players insurance. So, historically this cover has covered most of the financial losses incurred during the event. In recent years Due to the increase in player injuries in the last year, the franchises associated with the players are working more diligently about adequate and timely insurance cover.