2023 Road Racing Insurance Crisis
The Facts :
- The harsh reality is that road racing (both Irish / Northern Irish events) are facing an insurance crisis.
- Without insurance there will be no racing.
- The previous cost of insurance was expensive, but the current costs anticipated for 2023 are so expensive they are –currently– likely to be unaffordable.
- The risks involved in paying for insurance now need weighed up by the Clubs. Can they afford it, and if so what happens in the case of poor weather, poor spectator attendance, and poor spectator programme / ticket purchases – when these things are considered are the risks still worth it?
- Trials events have already been cancelled in Ireland.
- No insurance is currently in place for MCI or MCI(UC) events – however negotiations are ongoing.
- Brexit has affected MCI Insurance options. Previously UK Insurers were used for MCI events, however this now has to be sought through European Insurers.
No official comment has been made by the MCI or MCI(UC) however the skuttlebutt is that the latest quote for insurance has seen an increase in 300% from last year’s premium.
The Good News :
The Cookstown Club have made a comment, and at the time of writing are the only Club to have done so.
The remain positive for a 2023 event however do recognise the current situation and the risks that are currently hanging over motorcycling as a sport.
The have made these comments through a post on their official Facebook Page.
The full statement is available below.
