The final one-day international (ODI) cricket match between India and Australia, which was abandoned due to rains on Wednesday, might leave Oriental Insurance Company poorer by up to Rs 6 crore. The Mumbai Cricket Association (MCA), the host of the final ODI in the seven-match series, had bought an insurance cover from Oriental Insurance for losses on cancellation of the match due to natural phenomenon, terrorist attacks, communal violence and various other causes.

On Wednesday, cyclone Phyan that passed off Maharashtra coast brought heavy rainfall in the coastal areas leaving the ground at D Y Patil Stadium in Navi Mumbai wet and soggy. After the umpires inspected the ground and found it unfit for playing, the match was called off in the evening. A cyclone alert was sounded by the India Meteorological Department across coastal areas in north Maharashtra and south Gujarat in the wake of a deep depression over the Arabian Sea.

According to Reena Bhatnagar, deputy general manager at Mumbai office of Oriental Insurance, the match was insured for a total of Rs 6 crore, including Rs 2 crore as gate money (ticket sales), Rs 3 crore for advertising revenue loss and Rs 1 crore for match expenses incurred. “There is definitely a claim that is payable under the policy but we have not been intimated by MCA yet,” Bhatnagar told Financial Chronicle.

This is the first claim for MCA though Oriental Insurance, which had paid claims on two occasions earlier when matches were called off during the Indian Premier League (IPL) tournament and once when an India-West Indies match was called off. The Irda allows general insurance companies to insure matches held outside India if the insured is an Indian party.

The Board of Control for Cricket in India (BCCI) generally insures all players and broadcasters even for overseas matches. The host of the match has to insure the match, like MCA did. According to Bhatnagar, BCCI had bought a Rs 40 crore cover for the entire seven-match series in name the broadcaster, Nimbus Communications.

Bhatnagar said once the claim is filed with them, the certified assessor will assess the loss on books and then the claims will be settled. Since the tickets are already sold and the money is non-refundable to the buyers, the insurance company might exclude that from the claim.