The lure of lucrative international cricket tournaments

The year has launched into a non-stop series of international franchise cricket tournaments, including One Day Internationals, international and domestic T20s, the Australian Big Bash League season and the Bangladesh Premier League.

Cricket has become a year-round sport providing players with the opportunity to play in some of the most prestigious and lucrative tournaments worldwide. While increased participation allows talented younger players to hone their experience and skills while increasing their earnings, it also presents a greater risk of serious injury. International contracts are lucrative, but only if the player can fulfil the commitments made in that contract. If an injury leaves them unable to play, they might find themselves unprepared for the loss of income.

Former England Player Simon Jones MBE said:

“When playing a sport you love, a serious injury is likely to be the furthest thing from your mind. It’s something that sports professionals can overlook as they focus on the serious business of training for excellence on the field of play.”

Many players don’t think about what options are available to protect them or the kind of financial value of the protection. Temporary Total Disablement (TTD) Cover – Franchise Tournament Cover is designed to pay the salary of professional cricketers who cannot play due to an injury before or during the competition. There are several options to choose from:

• Pre-tournament cover protects against any injuries sustained before the start of the tournament that would prevent playing in the competition.
• In-tournament cover protects match fees whilst playing in the tournament.
• Pre-tournament and in-tournament cover protects an entire franchise cricket tournament salary before and during the competition.

Covering loss of earnings

We anticipate that leading players’ salaries over ten years of international and franchise cricket could be more than six times annual earnings. It, therefore, makes sense for many players to explore increasing their level of cover.

Getting an insurance quote with the help of a specialist sports broker is the best option. Insurers will consider a player’s age, injury history, role in the team, and the value of their contract, before a more detailed medical questionnaire establishes the final figure.

Tips for travelling abroad for the first time

Arranging insurance protection is crucial in terms of protecting earnings. Once that’s organised, the Professional Cricketers Association (PCA) encourages players to plan international trips, particularly if it’s their first time on a professional tour.

• Broader personal development – use overseas club contacts. Are there opportunities that aren’t available in the UK?
• Coaching – for those interested in coaching, it’s an excellent opportunity to work with different players and great for Advanced Coach Award applications.
• Plan downtime – you will have more freedom over your schedule than in a typical winter, so plan your time.
• Find things that align with career goals, such as work experience, coaching, learning, developing skills and hobbies.

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Kerry London is authorised and regulated by the Financial Conduct Authority. The company is a leading UK independent and Lloyd’s accredited broker, which means that we work with a wide range of niche and major insurers.

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