Alliance Insurance Brokers insures IPL 2024

Alliance Insurance Brokers have arranged financial protection through insurance for one of India's most prominent, worshipped and loved cricketing events - IPL 2024. As the popularity and reach of IPL is growing year-on-year, the value of the insurance cover for this prestigious sporting event is growing at an equally fast pace.  IPL 2024 season has experienced an increase in the insurance premiums for player related covers by 20-25%, compared to last year, due to the increased fee value of cricketers coupled with increasing number of losses due to player injuries.

 With a robust track record and having structured tailored insurance solutions for over 3500 cricket matches for several sporting entities, Alliance Insurance Brokers have been the insurance advisor for multiple sporting events in India and overseas. Comprehensive insurance covers are structured for the season to address potential revenue or expense losses arising out of unforeseen circumstances like adverse weather conditions, civil unrest, or player injuries (fees /medical costs) to name a few. Alliance Insurance Brokers creates a holistic ecosystem wherein all stakeholders associated with the event, be it the organiser, broadcaster, franchisees, sponsors, ancillary service providers can mitigate their risks and safeguard their interests in the event through insurance.

 Speaking on the occasion, Shaista Valji, Associate Director, Sports at Alliance Insurance Brokers, said, “We are extremely thrilled and excited to be a valuable part of yet another season of IPL.  We express our sincere gratitude to the various stakeholders associated with the event and all our insurance service providers for giving us an opportunity to make our humble contribution in this remarkable IPL growth story. IPL 2024 season has a significant financial exposure estimated at approximately ₹10,000 crores. Each IPL match holds a value ranging from ₹100 crore to ₹125 crores, underlining the substantial financial stakes involved, which only creates an increasing need for higher levels of risk management.”

 “A major part of the IPL insurance consists of event cancellation insurance and IPL player insurance. Historically, these covers have been providing protection for most of the monetary losses incurred during the event. In the recent years, player injuries are increasing and due to significant loss payouts last year, entities associated with players have been more diligent about having adequate and timely insurance cover in place,” she further added.

 With over 16 years of experience and a portfolio covering more than 3,500 cricket matches worldwide, Alliance's Sports Insurance Team, has become a trusted partner in the sports industry. The company's dedication to tailored solutions and seamless claims settlement processes has solidified its position in the market. As anticipation for IPL 2024 mounts, the collaboration between several sporting entities associated with IPL and Alliance Insurance Brokers reflects a shared dedication to ensuring the success and security of India's premier cricketing event.