Archive for June, 2010

Football and Insurance ?

Posted on June 28, 2010. Filed under: Uncategorized |

While we Indians are celebrating India’s Asia Cup Winning Campaign, much of the world is glued on to the Football World Cup in South Africa. It would be a surprise if any of us have not watched the carnival of football that is in World cup. To see the favourites tumbling like Italy did yesterday and to see the very last-minute goal of USA is enough reasons for the world to enjoy the World Cup and the uncertainties’ it holds.

Talk of Uncertainty – we would have to talk of Insurance. This time we are not going to get into details of the insurance of the World Cup Football event,but something slightly different and interesting.

If you are an insurance employee in South Korea – What would you pray for – South Korea to go further and further in the World cup – Quite naturally is it not. Please read further to see if you want to revisit this prayer.

In South Korea, Insurers provide cover to the retailers and finance company which lottery for World Cup Football results. Six leading insurers including Samsung have covered the contingency. So the further the Korean team advances, the more is the pay out. The Sum Insured is about RS.20 Crores which means the sum is not so high that the insurance companies pray for the exit of their national team.

That is the world of insurance to you, having a foothold on anything and everything happening in the world.

(contributed by K Venkatesan )