The PCB will be aiming to insure the Pakistan-India series scheduled to be held in January-February but fears a postponement of the series after relations between the two countries hit a low in the wake of the Mumbai attacks.
The Indian government had alleged that the terrorists had a Pakistani link - a claim that Pakistan has strongly denied, which has led to a straining of relationships and cast serious doubts on the tour going through.
The PCB has suffered in the past year from a spate of postponed tours and tournaments. The previous administration had insured tours but no claims had been made, as they were postponed not cancelled. The Australian series for example, which was due to take place this year, has resulted in heavy financial losses for the PCB
However, preliminary discussions are on between the PCB and a British insurance expert, David Boorman, about future tours, starting with India's visit. And the PCB is looking to insure the series not just to recover the premium, but maximise potential earnings on its investments.
"We are looking to insure on the basis that India is touring Pakistan," a board official "If we insure, then we will not do so for just the premium - we want to insure against the potential revenue as well. We will only insure if we can do so against revenue."
Boorman, who is based in London, is in Pakistan to discuss the various options with a team of officials from the PCB. The final package, the Board official said, will cover cancellations and postponements arising from acts of terror. "The management has learnt from the errors of the previous administration. We will look at every possible angle before deciding on what insurance to go for," the official said.
India are scheduled to play three Tests, five ODIs and a Twenty20 international in Pakistan between January 13-February 19.