Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Indian broadcaster takes weather insurance cover for cricket league


Indian broadcaster Multi Screen Media who are responsible for televising the Indian Premier League cricket competition has taken out a weather insurance policy to cover against the chance of bad weather disrupting or cancelling league matches.

The policy is designed to cover the total expected revenues that Multi Screen Media expect to make from televising the Indian top flight cricket league. That comes to Rs 900 crore which is roughly USD$200m. The insurance covers the broadcaster against matches being washed out or not played due to unfavourable weather.

From the little information available it seems that this is a traditional weather insurance policy which requires matches to be cancelled or stopped for any payout to be made. We do wonder whether a policy that paid out based on actual weather conditions might have been more efficient for this purpose as even a couple of hours of rain could then have been compensated.

More from the Indian Business Standard.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.