Mumbai Marathon — running with insurance cover
18 Jan, 2014 12:12 PM
 
The scourge of terror often casts its shadow on sporting events, and that necessitates pre-emptive measures such as adequate insurance. The organisers of the Mumbai Marathon, which will take place on Sunday, have taken a Rs 20-crore comprehensive insurance cover against event cancellation, public liability and terrorism. An estimated 40,000 runners are expected to participate in the 42-km run.

Security threats at marathon events have increased following bombings at last year’s Boston marathon.

Procam International, organisers of the Mumbai Marathon, touted as the largest in Asia, have sought a repeat of last year’s comprehensive cover with New India Assurance and Reliance General Insurance.

“This year we have covered all the participants through third party liability insurance in case of any injuries during the event,” said Bruno Goveas, Director, Public Relations, Procam International.

Goveas said that since there has been no untoward incident in the last 11 years, they did not see a need for a higher insurance cover. However, they have beefed security for the event and the Mumbai police have taken special security measures to ensure smooth conduct of the event.

Corporate honchos

RBI Governor Raghuram Rajan, along with top corporate honchos such as Erick Haskell, MD, Adidas India; Rashesh Shah, Chairman of Edelweiss Financial Services, and K.K. Mishra, CEO of Tata AIG General Insurance, will be seen guiding their teams.

According to Praveen Vashishta, Chairman of Howden Asia Insurance Brokers, in events such as marathons, organisers do not perceive much liability risk since the event happens in a public place. However, he said, organisers generally take insurance cover against event cancellation or abandonment due to adverse weather conditions or political tensions.

The full marathon covers a distance of 42 km, starting and ending near the Chattrapati Shivaji railway terminus with the half-way mark at Bandra across the Bandra-Worli Sea Link.

For the event, 1,950 traffic police officials will be deployed, along with 1,000 private security personnel and 1,000 volunteers.
 
Source : Business Line
http://www.thehindubusinessline.com/industry-and-economy/banking/mumbai-marathon-running-with-insurance-cover/article5587152.ece
 



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