Wednesday, May 25, 2011

Sports Insurance booming in India

With the introduction of Indian Premier League (IPL), one sector has surprised everyone with its growth potential. The Insurance sector has got a huge amount of business from IPL. Insuring entire teams and individual players, a few Insurance companies have done crores of business in this two week event.

National Insurance Co. Ltd. is the company which has managed to win over a huge section of this market. They have successfully cornered Rs. 900 crores worth of business with just one client. Multi Screen Media Pvt Ltd had taken a policy under which any losses against their advertisement revenue is protected. They are the one who are the Insurance providers for 5 IPL teams. And the most important of all, Sachin Tendulkar is insured by National Insurance Co.

The other major player in this section is Oriental Insurance. They have provided a ridiculously high Insurance cover of Rs. 1000 crores to Board of Control for Cricket (BCCI). They have managed to score with a few PL teams as well.

IPL is an orgy of money and every business wants a piece of it.

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