Luck of the Irish: Insurance Costs Cause Country-Wide Racing Closures
As of this quarter, motorcycle racing in Ireland has become, in the words of the locals, “as rare as rocking horse crap;” the country’s insurance premiums have taken such a spike that nearly all motorcycle racing efforts have been canceled – and, in a bitter move for the people, The Motorcycle Union of Ireland (Ulster Centre) has started a funding platform to get motorcycle racing up and going again.
How high are the figures, you ask?
Coverage from BBC states that public liability insurance is now upwards of £400,000, with the motorcycle union being asked “to pay an excess of £300,000 in the result of any claim – this includes rider accidents – and £100,000 excess for a property claim.”
This means the organization would have a surplus of £800,000 in levies for this year alone – a staggering figure, and one that may be connected to the higher mortality rate of celebrated road races such as the Isle of Man TT.
“The BBC understands the company who insured bike racing in Ireland last year also insured the Isle of Man TT, where six riders died,” continues BBC.
“Public liability insurance covers injury to people and damage to property… the reasons for the increased premiums include instability in the insurance market and insurers getting very concerned by the number of claims in the sport,” adds MCN.
Here are all Ireland’s canceled races suffering closure due to insurance costs:
- North West 200
- Cookstown 100
- Tandragee 100
- Armoy Race of Legends
- Ulster Grand Prix
- Sunflower trophy at Bishopscourt
- Ulster Superbike Championship
- Trials
- (Motocross is unaffected)
You can see, then, how helpful this new GoFundMe could be if funds were successfully raised to be able to cover insurance levies.
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“The clubs could not agree to progress with the purchase of the insurance policy, despite knowing fully that this would mean the cancellation of all two-wheeled sport in Northern Ireland in 2023,” states the GoFundMe appeal.
“The MCUI(UC), not having the funds to purchase the insurance, could therefore not continue. We are now asking our fans, those that love their racing, their road racing, and trials to help us by kindly donating directly to our insurance shortfall fund to give us the chance to have racing this year.”
“This is the official MCUI(UC) fundraising page. All funds received will be managed by ASM Accountants in Belfast, (www.asmaccountants.com) for good governance and full transparency.”
With MUI’s target flocked at £300,000 and 2500 donations already contributing over £71,503, we look forward to seeing what the luck of the Irish brings.
