News People24 Jun 2022

India:Cancelled cricket match expected to spark claims of at least US$5m

24 Jun 2022

The cancellation of the fifth and final T20 cricket match on 19 June between India and South Africa, because of rain, is likely to trigger claims of INR400m ($5.1m) to INR450m.

The claims would include one from the broadcaster Star India for the loss of advertising revenue for the advertisement slots that it could not run. Insurers estimate that these claims would be around INR300m, reported The Times of India.

Claims would also be lodged by tournament sponsors including Paytm, MPL, ACC Cements and Dream11 for loss of visibility against the overs that were not played. BCCI and Karnataka State Cricket Association also have a stake in this as they were event organisers. However, the state association is understood to have taken a ‘one ball bowled’ cover, which means that the insurer’s liability ends the moment a single ball is bowled.

Public-sector insurers led by New India Assurance and National Insurance were understood to have been providers of some of the covers.

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