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Tendulkar scores most on IPL insurance cover

Tendulkar scores most on IPL insurance cover
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First Published: Fri, Apr 08 2011. 12 03 AM IST
Updated: Fri, Apr 08 2011. 12 03 AM IST
Kolkata: Sachin Tendulkar, the captain of Indian Premier League (IPL) team Mumbai Indians, has obtained the highest insurance cover among players in the tournament that begins its fourth edition on Friday.
Tendulkar, who will turn 38 on 24 April, has been covered for Rs 44.97 crore by National Insurance Co. Ltd, said an official at the insurer who did not want to be named. He is followed by Chennai Super Kings captain Mahendra Singh Dhoni (29 years old), Delhi Daredevils’ 32-year-old Virender Sehwag, 29-year-old Yuvraj Singh of Pune Warriors and 30-year-old Harbhajan Singh of Mumbai Indians. All these players were part of the team that beat Sri Lanka in the World Cup final on 2 April.
Most IPL players were secured through auction this year; Tendulkar and Dhoni were among the few to be retained by their teams.
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Oriental Insurance Co. Ltd has insured Dhoni for Rs 38.44 crore, said an official at the insurer, asking not to be named.
Sri Lanka’s 33-year-old Mahela Jayawardene, who plays for Kochi Tuskers Kerala, has received the highest cover among overseas players in IPL. Oriental Insurance has covered Jayawardene for Rs 24.44 crore. He is followed by 23-year-old Kieron Pollard of West Indies, and Sri Lanka’s Lasith Malinga, 27.
The covers are largely based on the contracted fee that a player is to be paid by his team.
Tendulkar is to be paid a fee of Rs 12.42 crore, according to disclosures made by the team to National Insurance, which were reviewed by Mint.
Mumbai Indians has a total cover of Rs 400 crore, including Rs 245 crore for the players, said a National Insurance official, who did not want to be named.
Besides compensation to players for injury, permanent disability and loss of belongings, the package also covers Mumbai Indians for loss of revenue due to cancellation of matches.
Kolkata Knight Riders has obtained a cover of Rs 11.64 crore for 29-year-old captain Gautam Gambhir, said the official from Oriental Insurance, which has insured the team. Gambhir, who fetched the highest price of Rs 11 crore in the auction, has obtained a personal accident cover of Rs 7.2 crore, Rs 4.42 crore for medical treatment and Rs 2.2 lakh for loss of belongings.
In line with the recommendation of the IPL governing body, personal accident covers obtained by most teams were three times the match fee for each player, said National Insurance and Oriental Insurance officials.
Graphic by Uttam Sharma/Mint
manish.b@livemint.com
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First Published: Fri, Apr 08 2011. 12 03 AM IST