Various industries grow due to Indian Premier League (IPL). This year, insurance industry has benefited a lot from it. The BCCI has purchased an insurance coverage of around rupees 1,200 crore, which will make up for the loss of revenues from sale of broadcast and other rights if any of the IPL matches fail to take off. Also, Multi Screen Media (MSM), the official broadcaster of this tournament, has bought an insurance coverage of around rupees 800 crore to cover for the loss of revenue from advertisement if a game is called off after 10 or 20 overs, or the number of overs is reduced.
These deals have come in time when 49% FDI has also been allowed for insurance industry after a long wait of 6 years. Both the events indicate a growth year for insurance industry.
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