Llyods of London suspects existence of PCB insurance cover

February 16th, 2008 - 3:10 pm ICT by admin  

Lahore, Feb 16 (ANI): While the Australian cricket team is still not sure about touring Pakistan in March, London insurance company Lloyds has expressed doubt about the Pakistan Cricket Board (PCB) organising insurance cover in the event of the tour being cancelled.

PCB Chairman Nasim Ashraf told the media in January that the cricket board has secured an insurance cover worth 7.4 million dollars through a consortium, which falls under the umbrella of Llyods of London.

Ashraf, however, was unsure about the insurance containing a specific compensation clause in case Australia cancels the tour for security reasons.

In an interview to the Voice of America (VOA) Lloyds media officer, Bart Nash, denied the existence of a PCB insurance cover.

“We dont sell any of the insurance, we provide a place that buyers and sellers can come together. As we do not insure things ourselves, rather act as a market for insurers, the best I can do is provide you with the names of the insurers that specialise in sports cancellation. They are Beazley, Hiscox, BRIT, Liberty, Talbot, Catlin and Kiln,” the Daily Times quoted Nash, as saying.

“I hesitate to say that it is usually the client that does not want to reveal details of deals, so if the PCB has, I suspect that the insurance exists,” he added.

The PCB needs to clear existing doubts on the issue by making the factual position public. (ANI)

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