IPL 2009 is insured for US $286 million, more than double the amount- IPL2008. Is this required?

It absolutely not necessary to invest so much on Insuring each player. I read it the newspapers that the details of the package are similar to those signed last year, and will provide covers not just due to terrorism, but take into account other factors like accidents during travel, flights, and loss or theft of their personal luggae as well. If all this was possible in a lesser amount last year than why not this year? And insurance of personal luggage sounds so wierd...Is that also the responsibilty of the franchises?  Then what will the players do with all the money earned from IPL matches..?

No, according to me if last year US $125 million was sufficient they are unnecessarily making this also a hype. I feel this is also used as a tool to brand the teams because the amount to insured against each player is decided by the franchises. It is just waste of money.