Mitchell Starc reaches settlement with insurance company for IPL 2018 deal

Kolkata Knight Riders purchased Mitchell Starc for a staggering sum of ₹9.40 crore ahead of the 2018 season of the Indian Premier League (IPL) but the Aussie sustained an untimely injury right ahead of the tournament, in the Test series against South Africa, only to be sidelined from the IPL. However, the syndicate of Lloyd's of London, the long-running insurance market where coverage can be bought for unique circumstances that traditional insurers don't insure against, denied a subsequent payout.

The insurance company’s lawyers were not convinced by the authenticity of Starc’s claim, with them disputing the timing of the injury, which came in the second Test, due to which a civil trial was listed, but now that has been solved two days prior to the eventual hearing at a Victoria court.

"The settlement came on Monday, just two days before the case was due to be heard in the Victorian County Court. Terms of the agreement, including a financial settlement, were not yet released but are due to be filed within days,” Sydney Morning Herald reported. 

The settlement means that Starc will now pocket a total of $1.53 million as a payout. Since pulling out, Starc hasn’t played in the IPL but has expressed interest in returning to the league in the future.