KKR CEO Venky Mysore reveals how an IPL franchise pays an injured player

The CEO of Kolkata Knight Riders (KKR) Venky Mysore has revealed the details of the insurance covers that an IPL franchise has. Having worked in the insurance sector for three decades, Mysore explained how the insurance covers help IPL teams like KKR battle unforeseen circumstances.

In a live chat with Indranil Basu on Sportskeeda Cricket's Facebook Page, KKR CEO Venky Mysore highlighted that the cover helps them pay the players who get injured. In addition to that, these covers even help refund the fans if a home game gets abandoned without a single ball being bowled.

How could we cover for something that happens once in a 100 years: KKR CEO Venky Mysore on pandemic insurance

IPL 2020 almost got canceled because of the COVID-19 pandemic

The Coronavirus pandemic has had a nasty impact on the cricket world. Following the government's strict lockdown rules, BCCI had decided to suspend IPL 2020 indefinitely. Franchises like KKR would have suffered massive losses had the tourney been cancelled this year.

When asked if the IPL franchises had an insurance cover for a situation like this, KKR CEO Venky Mysore replied:

"It's been well over 100 years since the last pandemic. So, one doesn't even know, if somebody had asked me 'Should we cover for this?,' Something that happens once in a 100 years, how could you cover that."

The KKR CEO then spoke about the insurance covers that an IPL franchise has for the players.

"The first and foremost is medical. So, you always cover that for, God Forbid, if something goes wrong, there is medical coverage for all concerned," Venky Mysore stated.

He later highlighted that there were many youngsters in the KKR squad, which is why the team management also had an accident cover for them.

"If there is an injury to a player, we are obligated to pay a certain amount of money to the player and the franchise insures itself against that type of a loss because not only do we lose the opportunity to feature that player but we also end up having to pay. So, we insure ourselves against something like that," the KKR CEO explained.

Lastly, he mentioned that the franchises also have cover for a game washed out without a single ball being bowled. The cover helps them refund the fans who had bought the tickets for that game.