Cricket fans were not the only ones left disappointed by the cancellation of the India-Australia one-day international (ODI) match Nov 11 that was to be played at the DY Patil Stadium in Navi Mumbai. Public sector insurer Oriental Insurance will have to pick up the tab for claims worth Rs 6.75 crore.
While the Mumbai Cricket Association (MCA) had taken an insurance cover for Rs 6 crore against natural perils such as cyclone, lightening, death of a political leader, riots, airline strike, civil commotion etc, the Board of Control for Cricket in India (BCCI) had insured the advertisers and the broadcasters against cancellation due to such events for Rs 75 lakh. This would include the loss of revenue through ticket sales.
Image: Rain pours over a covered DY Patil stadium in Mumbai,
Text: Business Standard
Image courtesy: AP