IPL 2025, Insured For Thousand Of Crores, Suspended Indefinitely: Here's What The Insurer Has To Say

In what has shaken up India's highly viewed sporting event, the Board of Control for Cricket in India (BCCI) has reportedly suspended the remaining matches of the Indian Premier League (IPL) 2025 season for one week. The reason behind this suspension is the ongoing tensions between India and Pakistan following a dastardly terror attack on Indian civilians in Pahalgam, Kashmir.

"The BCCI has decided to suspend the remainder of the ongoing TATA IPL 2025 with immediate effect for one week," the cricket board said in an official statement.

In retaliation, the Indian Armed Forces launched 'OPERATION SINDOOR' on May 7, targeting terrorist infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir. According to the official government release, these were the bases where terrorist attacks against India have been planned and directed.

BCCI Suspends IPL

Ever since this military action, the conflict between both the nations has escalated resulting in the halt of many services in India such as shutting down of airports and cancellation of IPL matches.

"The decision to suspend IPL has been taken by the IPL Governing Council after due consultation with all key stakeholders following the representations from most of the franchisees, who conveyed the concern and sentiments of their players, and also the views of the broadcaster, sponsors and fans; while the BCCI reposes full faith in the strength and preparedness of our armed forces, the Board considered it prudent to act in the collective interest of all stakeholders," the official release stated.

Speaking to PTI, a BCCI official said that, "It does not look nice that cricket goes on while the country is at war." This high-profile league was scheduled to see the finale on May 25 in Kolkata.

Adding on how the foreign players are feeling about the disruption in matches, an IPL team official told PTI that "The players are doing well but of course there is concern among them after seeing all that has happened."

IPL 2025 Suspended

The abrupt halt has thrown not just the teams and broadcasters into a state of limbo, but also raised questions about the tournament's insurance, especially with 12 group matches and the playoffs still left on the schedule.

On Thursday, the match between Punjab Kings and Delhi Capitals in Dharamsala was abandoned mid-innings.

Amid all the speculation, Howden India has released a brief, and carefully worded, statement.

"We understand that the IPL is suspended until further notice," the statement reads. "We await official statements from government authorities on whether the entire series will be called off or rescheduled to a future date. Match cancellation claims are complex and dynamic, and speculating is not in the best interest. We remain committed to observing developments closely and responsibly."

What is the average premium and coverage for IPL?

The premiums and sum insured for a high-profile event like IPL are set to be in crores.

As per a Business Standard report, the total insurance cover taken against the IPL in 2024 was Rs 10,000 crore. The broadcasters, organisers, franchises, and sponsors took insurance for Rs 6,000 crore wherein broadcasters alone locked in an insurance for Rs 3,500 crore for television revenue. The remaining insurance coverage (amount wise) was taken by the others.

On the premium front, the average amount in 2025 was nearly 5 to 6 crore, an increase from Rs 1-2 crore last year.

The rise in premium has been attributed to factors like issues with player's fee, unpredictable weather conditions in recent times, such as unseasonal rain disrupting a match schedule, etc.

What Happens Next?

What's clear is that IPL 2025 had already crossed the 50-game mark, 58, to be exact, before being paused. A dozen more games in the league stage were still on the calendar, slated for Lucknow, Hyderabad, Mumbai, Bengaluru, and others, including the playoffs earlier scheduled in Hyderabad and Kolkata.

The cricket board has stated that further updates regarding the new schedule and venues of the tournament will be announced in due course after a comprehensive assessment of the situation in consultation with relevant authorities and stakeholders.

For now, insurers are also watching and waiting until the BCCI or government announce further updates.