Naidu Sworn In As Andhra Chief Minister

The Oriental Insurance Company has insured the telecast of World Cup cricket matches by Doordarshan, indicating new categories of the risks public sector insurance companies are willing to cover as part of their preparation to encounter impending competition in the domestic sector.

The total insurance cover for the cricket telecast is worth about Rs 38 crore and Prasar Bharati (Broadcasting Corporation of India) would pay a premium of Rs 32 lakh to the company.

Oriental Insurance had earlier insured the cross-border bus service between Delhi and Lahore, and more recently United India, another General Insurance Corporation (GIC) subsidiary became the first to extend insurance cover to a commercial film.

 

An industry official remarked: "Days of PSU insurance companies monopoly in the sector are numbered. They are now working on new products to face private companies. There is a general consensus on the IRA Bill across party lines and that could be passed when a new government is sworn in,"

A senior company official said Oriental would insure 11 live matches and 19 highlights of the matches to be shown on DD-1 and DD-2. The insurance cover per match would be Rs 2.50 crore while for highlights it would be Rs 50 lakh each. Doordarshan would telecast all the matches involving India and the two semi-finals