Monday, December 5, 2011

Indian Cricket Team Insured by BCCI for Rs.2.5 crores each

The Board of Control for Cricket in India has decided that they will insure each national player for Rs.2.5 crore.

The policies of BCCI has gradually changed towards their players. This moves comes after the Sri Lankan Cricket players were attacked in Lahore, Pakistan. The previous Insurance amount for the players of the richest Cricket Board in the world was Rs.10 lakh per person. And this was limited only to the players who were touring abroad. Now the Insurance cover will be extended to even those players which have been contracted centrally by the BCCI.

A total 37 players are contracted by BCCI. They are divided in 3 grades which are Grade A, B and C. The Insurance cover will be uniform for all the Grades. The 12 players in Grade A, 5 players in Grade B and 20 players in Grade C will be insured for Rs.2.5 crore each.

This new development took a long while to finally come to fruition. Also the support staff of Team India will be covered under this policy as well. The Insurance cover came into effect from 1st October 2011. The Insurance provider in this case is National Insurance Company.

It is a positive step by BCCI which is the richest cricket board in the world to raise the Insurance cover of each player from Rs.10 lakhs to Rs. 2.5 crore. It also shows the importance of Insurance for important employees in any organisation. BCCI is an organisation and other organisations which includes companies, firms and self proprietors should follow suit.

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