After a marathon home season that saw the Indian team playing as many as 13 Tests in six months, several Indian players failed to keep themselves fit for the upcoming edition of the Indian Premier League. A release from the Board of Control for Cricket in India has confirmed that Virat Kohli, Ravindra Jadeja and Umesh Yadav will miss the early matches of the tournament while Ravichandran Ashwin, Murali Vijay and KL Rahul are ruled out of the tournament.
Well, some players will obviously miss another exciting season of the T20 extravaganza while some will miss the initial phase but they will not miss out on the hefty amount due to spending time on the sidelines. The BCCI’s player insurance for the IPL takes care of that for the centrally contracted players.
So here is everything you need to know about the insurance policy:
What is IPL player insurance?
All the centrally contracted players are entitled to it. The insurance policy was introduced before the 2012 season, after a discussion between then BCCI secretary N Srinivasan and the Indian players. The policy takes care of the players’ payment if they miss the IPL due to injury/accident and illness/sickness.
Method to determine the compensation amount:
The compensation amount is determined according to a player’s total contract amount with regard to the number of matches he misses. If a player misses only a part of the tournament, his compensation is equally shared by the BCCI and the respective franchise. On the other hand, if he misses the entire tournament, the BCCI pays the whole amount.
Amount spent by the BCCI for the IPL player insurance:
The BCCI has signed a deal with Alliance Insurance for its Grade-A, B and C players and the total sum insurance for this season is Rs 128.7 crore. The BCCI pays a premium in excess of Rs 4 crore. The insurance is applicable only to the duration of the tournament but the period of insurance is 12 months from the commencement of the policy.
Steps were taken when a centrally contracted player gets injured during the IPL:
In this case, the player’s compensation has to be covered by the IPL franchises who have their separate insurance schemes for the players.
Meanwhile, the Indian players, capped or uncapped, who fail to make it to the playing eleven, get full money. On the other hand, an overseas player gets 50 per cent of his contracted money if he sits on the bench.