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FIA President Ben Sulayem Launches New Global Task Force To Tackle Rising Costs Of Motorsport Insurance |
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Motor sport sector has reported escalating premiums, restricted coverage, reduced access to insurance that risks its sustainability and growth at global levelMohammed Ben Sulayem, President of the Fédération Internationale de l'Automobile (FIA), has launched a new task force to provide clarity on global motor sport insurance policy and the impact of its rising costs. The motor sport sector has reported escalating premiums, restricted coverage, and reduced access to insurance that risks the sustainability and growth of motor sport at a global level. Tasked with reviewing this growing issue, the FIA Motorsport Insurance Task Force will utilise the expansive knowledge in this space from the FIA’s work in the mobility sector to deliver clear guidance and practical solutions for Member Clubs. Leveraging the FIA’s unique role spanning mobility and motor sport, the committee will provide educational resources, global understanding, and cross-governmental engagement to support FIA Member Clubs as they navigate the changing insurance landscape. FIA PresidentBen Sulayem said: “The FIA is committed to ensuring motor sport and mobility are safe, sustainable, affordable, and accessible, while driving global growth. Rising insurance costs risk limiting opportunities and undermining accessibility across the world. “To address this, we must work hand in hand with our Clubs, insurers, and local authorities to deliver solutions that keep our sport safe, fair, and sustainable for all. “Our Members are at the heart of everything we do at the FIA, delivering outstanding work worldwide in both sport and mobility. As their federation, it is our duty to provide clarity, guidance, and representation in global governance on issues that shape the future of motor sport.” The task forces was initiated by the FIA President and led by the Secretary Generals for Sport and Mobility. Secretary General for Sport, Valerio Iachizzi, said: “Motor sport thrives on opportunity and accessibility. Rising insurance costs present a serious challenge to maintaining this ecosystem, particularly for grassroots competitors and organisers. “Working closely with our Clubs, promoters, and insurers, the FIA is determined to safeguard pathways into our sport and ensure that motor sport remains open and achievable for future generations around the world.” Secretary General for Mobility and Sustainability, Willem Groenewald, said: “In mobility, affordability and safety are central to delivering sustainable transport solutions, and these principles are directly relevant to the challenges motor sport is now facing. “Our experience in working with governments, regulators, and the insurance sector to protect consumers and keep mobility accessible provides us with valuable expertise that can also benefit our sport.” The task force will:
With the assessment phase now underway, an interim report will be delivered at the FIA Annual General Assemblies in Tashkent, Uzbekistan in December. |
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