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12:41 AM , , , , , , ,

BRSCC launch motorsport insurance initiative with MORIS.co.uk

Justin Everitt (MORIS.co.uk) & Dominic Ostrowski orf BRSCC
One of the most important pieces of paper for any MSA race licence holder is their own accident policy of insurance and MORIS.co.uk have been able to demonstrate they are ahead of the field when it comes to accessibility, speed and price. As Justin Everitt explains:

"I first had a race licence in 1986 and have had the pleasure of racing many cars since then. Most recently in the race winning MARCH 09R, but in this time also I have become painfully aware that while I have been lucky to survive uninjured, other are not so lucky. Serious accidents are very rare in motorsport – but they do still happen and so when I first tried to get myself insured I was surprised at both the cost and difficulty with which many brokers seemed to have in providing quick, easy and affordable solutions, so this set us on the path of creating an accessible and affordable insurance product specifically for MSA licence holders"

Motorsport Insurance Survey

MORIS.co.uk commissioned a small survey of motorsport insurance brokers with surprising results.  “The problem with all the motorsport insurance brokers who were approached was their speed of response. A premium of a few hundred pounds carries little earning potential for brokers to humble amateur race licence holders do not get the service they might expect. Some brokers wanted a swath of paperwork to be completed and some took as long as two weeks to generate a simple quotation. None were able to return a quotation in less than 48 hours. How quickly any of these brokers could produce a policy will no doubt vary considerably too. This has nothing to do with deriding motorsport insurance competitors comments Everitt, “but it is all about the internet platform that we have and which sets us apart from everyone else in the motorsport insurance game”


"Talking to Competitors at their level was vital"
 
In 2011 Everitt raced under the “I’m Insured – are you?” heading and the MORIS Marvels undertook further research with competitors asking simple questions about whether they regarded motorsport as being dangerous, whether they were insured or not and what they considered to be a fair price to pay for their insurance. 

 “The results were staggering” 

recalls Everitt, saying “so few actually had any cover and so many believed it was likely to be so expensive that they seemed to gloss over the whole subject and many were shocked to learn that for £69 an MSA race licenceholder can be covered for up to £250,000 for disability and I don’t know of any other worthwhile piece of paper in a race drivers kit bag”  

Going On Step Further with Race Driver Insurance

“We have been encouraged with the increasing number of MSA race licence holders who have taken advantage of our on-line motorsport insurance but at MORIS we wanted to improve on this further and create a “pay as you race” on-line insurance solution also and we are terrifically pleased to have the support of the British Racing and Sports Car Club (BRSCC) who  have partnered with MORIS.co.uk to launch a new insurance initiative that introduces a quick and very simple means for BRSCC Racing Members to insure themselves on a race by race basis. Currently there is nothing as low cost as this in the market".
Cottrell - Insurance Initiative

BRSCC’s Chairman, Bernard Cottrell explains “MORIS.co.uk and the BRSCC have maintained a relationship for many years and we have often assisted them conduct accident damage surveys. Last year MORIS asked a sample of drivers about their attitude to personal accident insurance and we were alarmed to learn just how few had adequate cover, with the additional cost and inconvenience being identified as particular drawbacks. As the leading club in the UK we feel it is important to encourage competitors to get appropriate cover and MORIS offers the quickest and best value way of achieving this”.

Justin Everitt of MORIS.co.uk explains further “We now have a simple on-line system that allows competitors to buy and pay for straight forward insurance from as little as £5.99 per race meeting. Our seasonal policies allow for £250,000 of disability benefit for as little as £69 and to my mind there is no more valuable piece of paper that I have when I go racing than my personal accident insurance policy. No other motorsport insurance competitors can offer such instant cover at such low premiums”

Dominic Ostrowski, the BRSCC’s Head of Marketing & Communications, added, “Via the link on our website racing members can easily select the level of cover and premium they require and MORIS will then deliver an instant policy any time of day or night. This offers a quick and easy way of getting peace of mind for a relatively small outlay, certainly in comparison to the overall cost of going motor racing”.  









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BRSCC support motorsport insurance initiative

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6:35 PM , , , , , , , , , , ,

Motorsport – a charity in need?

This article first appeared in The Paddock Magazine December 2013

Charity of Motorsport
I mentioned recently about the formation of the Association of Performance Driving Instructors (APDI) and the fact it was being brought together on the back of a number of concerns instructors had been voicing for years regarding safety. There had been too many spills and unnecessary incidents over the years. I was reminded of a Ferrari I embarrassingly shunted – as the instructor – because my “regular” leather soled shoes that I was obliged to wear for the purposes of looking neat and tidy did not have a terrific relationship with the polished metal surface of the brake pedal. I was mortified of course but this pales into insignificance at the recent loss of Sean Edwards who was instructing and as a hapless passenger lost his life in what looks to have been an horrifically hard impact with little or no abatement in speed. This has only heightened the concerns the instructors have regarding safety and am pleased to say we now have one of the established F1 driver coaches amongst the ranks.


I guess insurance is one of those things people most want after the disaster – we are all immune aren’t we – until such time the “other person” is “this” person and it took the horrendous weekend of 1994 at Imola where two drivers lives were cut short to galvanise the Grand Prix Drivers Association into a more harmonious group to speak as a collective regarding driver safety. The FIA, circuits and manufacturers all did their bit over the following years – and continue to do so. F1 has grown even more since the demigod days of Senna so in the corporately sanitised world we live in today, spilled blood let alone loss of life has greater resonances, but the GPDA did speak as a voice that was listened to. At the time I was Divisional Director of a company that was already insuring a number of F1 Drivers and working closely with the GPDA we introduced not just a terrific group package which delighted many in their quest for lower premiums, but also what was then an unheard of liability insurance. Many of the F1 teams who also had their insurances with us had the advantage of what was the widest and most comprehensive third party cover – but there were limitations too on what the drivers had.


The loss of Senna had caused a ripple effect and with a death on Italian soil the law of the land was that an individual was to be found “responsible”. I think Frank Williams stayed away from Italy for a few years, but the culpability of accidents focused the drivers’ minds on a need to protect themselves – from one another – especially the ones on the high salaries and sponsor endorsements aplenty. The case of Senna had a huge ripple effect across the insurance market. The final “loss” was about six times the value of Senna’s own policy as prudent sponsors cashed in their own contingent insurance policies, but drivers started to look at each other and ask – “what if the law of the land decides it is my fault?”


The creation of what was the first ever policy to cover one driver’s possibly negligent actions against another was ground breaking stuff – if ever insurance can be seen in that light – but we delivered what was asked for and something that had not been done before. It was all a terrific success – so successful was it that only a handful of drivers actually took up the option. The others argued that £1,500 to protect £5m was all too expensive….. yep- that is actually what some F1 drivers pleaded – but I guess times were errrrrr different then?


It probably all comes back to the fallacy that we all believe it will never happen to us. I don’t believe an F1 driver’s perspective and his assessment of “danger” and really any different to that of a club race driver. I mentioned before about how it seems to be the younger competitor who when injured seeks to “blame” someone else as opposed to just accepting that they really might get hurt racing. My outwardly lonely campaign of “I’m insured – are you?” emblazoned across the front of the car I race has slightly more foundation to it than meets the eye. The young ladies who volunteered to speak and survey a considerable number of drivers were genuinely shocked themselves at the answers and blasé attitude towards protecting themselves against the bleedin’ obvious.

Importance of Motorsport Insurance
I was reminded of a New Zealand driver Chris Van der Drift who lived up to his name and drifted into the air after hitting a car in front in an horrific Superleague accident at Brands Hatch.  He was catapulted into the air and after striking the support of the bridge, his car was launched into a dizzying series of spins, briefly catching fire, and came to rest in the middle of the track on its side. The wreckage was narrowly missed by following cars as it came to rest at the bottom of the dip in the circuit. After being stabilised at the scene, where he was conscious and talking to medics, he was taken to hospital and underwent a surgical procedure on his injured hand.

What followed I personally found quite bizarre – there was an actual Appeal to help raise funds for a slightly injured driver who did not have insurance. Mark Weber had even been drafted in to help raise the much needed funds…. This was all just nuts to me. Why did the driver not have adequate insurance in the first place? Why had the team, manager and/ or organisers not taken the simple step of establishing if a driver all the way from the other side of the globe has adequate insurance – especially if he was taking part in a “dangerous sport”?

I stumbled across an established motorsport forum and the first couple of comments caught my eye:


“In fact, as far as I am concerned his manager should never be allowed to be manager of a professional driver again. How can someone 'forget' to insure his driver for personal injury due to accidents? but still claim all the prize money said driver won?” And….

“It's pretty daft for any driver to compete at an international level without adequate insurance, whether in this case that was Chris's fault or someone else’s is impossible to say”


My company was asked to make a “Donation” – I thought about this for a moment and also thought about 4 million people at the time who were left homeless in Pakistan due to the flooding and pondered who might be most in need – they probably did not even have the option of insurance and I wonder how much of the Webber supported appeal found it’s way to slightly more needy causes……

Race Driver Accident Insurance
MORIS Survey Video
Justin Everitt
On-Line Motorsport Insurance

Created by Justin Everitt

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4:36 PM , , , , ,
MORIS.co.uk are proud to announce their involvement with the Federation of British Police Motor Clubs (FBPMC). The club was originally formed in 1961 and is formally recognised by both the Motor Sports Association and the Autocycle Union.

Just about all police forces in the UK which has it's own Motor Club is affiliated to the FBPMC who cover a very wide range of motoring and motor-sports activities - on both two and four wheels. The object of the Federation is to promote "a cordial relationship between the Police Forces and between individual members of those forces. To encourage a greater measure of co-operation between members of the public and Police and to foster good relationship between them. To encourage and promote schemes for road safety whenever possible. To organise sporting, touring, caravan and social events with a view to fulfilling the above aims".

Justin Everitt Comments: "We were originally asked to become a supportive of the Federation earlier this year and given we are the longest standing on-line insurance provider of both two and four wheel motorsports, we felt getting closer to such and established and varied group of clubs was sensible especially pending some of the additional on-line services we will be providing for next year."


Track Day Insurance | Motorsport Insurance Video | Justin Everitt
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9:29 PM , , , , ,

Insuring Racing Drivers

Having made a living out of what was once described to me as one of the “more esteemed professions” I suppose that puts me in the category of either having to practice what I preach – or at least be seen to be practicing everything I tell clients to do, myself.
Insuring Race DriversA couple of years back I decided in a moment of belated midlife crisis to don a helmet and take up the challenge of racing again in Sports 2000. I was lucky to be involved with a unique project and be a “works” driver of a modern Duratec March race car designed by a brilliant young mind, Kieron Salter who started life at the Reynard school of race car design. Part of the “uniqueness” was that I have completed a long standing project for a “world's first” motorsport website and we designed a colour scheme which emblazoned the words “I'm insured – are you?” across the front. I was very nearly caught out when some bright spark had the audacity to ask “...but are you?” and it set my mind the the consequences if I had NOT been insured and it is often these “consequences” that become overlooked or more pertinently, realised only too well after the accident. (LOW COST accident insurance for motorsport video)
I have previously made reference to Contingency Insurance and this particular area addresses may of the “consequences” of there being an actual loss. In ordinary terms a factory may well insure for the material loss of the buildings, stock and loss of materials for the fire that ravages everything, but the business also looses income if it cannot function. The insurance of this interruption to the business is a “contingent” insurance and is something that should be advocated to any professional team or manager. What are the effects and consequences of X? Is always the question to have answered.
One such area where I encourage team managers and sponsors of professional drivers to consider is apart from the responsibility of making sure the driver has insurance, I advocate that teams and sponsors have a suitable policy that allows them to recover some or all of their lost “investment”- which might have even been accrued over the years. Some time ago I was looking after the interests of a sponsor who had varying degrees of interest in a handful of drivers and an F1 team. On the sponsor's books was also an individual who was well known, not for F1 skills (although he had a not unimpressive racing CV) but he was also into other “dangerous” sports. We ended up placing a significant programme for this sponsor, but we also knew that if anything was to happen to one or two of the key individuals (ie there should have a serious accident), then the sponsor would probably lessen their future commitments to the drivers. One business that could also be effected in this particular case was my own. At the same time I was also trying to encourage the client and sponsor to consider something to also protect their long terms interests further. It made sense, but something was lost in translation and my words seemed to fall on deaf ears....
Three months later, one of the drivers did have an accident while mountain bike training and at first it was considered to be very serious. It was at this point the sponsor seemed to peep into the world of hindsight and belatedly acknowledged the message we had been trying to percolate through the ranks. I took the unusual step of divulging the fact my own business had taken out the exact same insurance that the sponsor was being encouraged to address. Mercifully the injured driver went on to make a full recovery and was peddling again within nine weeks. The sponsor graciously accepted the point we had been trying to make. Although there were no more “accidents” for the time this sponsor remained within F1, because of the “safety net” that could now be put in play, the sponsor was able to enhance their commitment for the next two seasons – which benefited one of today’s young drivers in particular.
And should you be wondering, if anything awful should happen to this hotshot, or indeed should there be a concern concern for some motorsport insurance broker masquerading as a race driver, yes the consequences are well covered.....in both cases.

MKRdezign

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