Ghost Ship Posted August 6, 2023 Share Posted August 6, 2023 On 8/5/2023 at 11:02 AM, Roger Mexico said: But if the Manx Government started being directly responsible, there might be pressure to increase the very modest payouts the current policy provides[1] and every claim from an injured rider or bereaved relative would become 'political'... While the levels of cover for officials and competitors under the Personal Accident part of the insurance are indeed "very modest", isn't it the potential liability to third parties under the Public Liability cover that would discourage IOM govt from self-insuring? The Public Liability insurance gives a third party policy limit of £40 million and I could easily see most if not all of that being brought into play in the event that a 'bike or sidecar outfit went into a crowd of spectators. I can well believe that that would be a risk that the govt might prefer to buy insurance against rather than self-insure On 8/5/2023 at 10:33 AM, A fool and his money..... said: ...Either payouts aren't guaranteed as you claim, or payouts are guaranteed but are considerably lower than the insurance premium. Or the insurance company knowingly insures at a loss each year. Or what actually happens is the insurance company adjusts its premiums to make a profit each year as far as possible. Well of course insurance companies adjust their premiums to make a profit (that's what their in business for) but isn't the point of insurance the pooling of risk? Perhaps I've misunderstood your point, but I assume the TT and MGP are not the only motorsport events covered by the insurer under the same or a similar policy. Unless all those events have to rely on their full public liability cover in the same year, of course payouts should always be lower than premiums. In respect of a single event like the TT it doesn't mean that payouts in any year aren't guaranteed and it doesn't mean that payouts would be considerably lower than the premiums. Neither does it necessarily mean that it makes sense to self-insure rather than to buy insurance from a specialist provider. We were recently discussing what level of voluntary excess to put on our house insurance. We used the principle that we buy insurance to cover those risks we can't afford to cover ourselves. If our house burned down we couldn't afford to rebuild it without insurance. I suspect the IOM govt similarly thinks that it couldn't afford not to buy third party Public Liability insurance as the risk is too great. If third party motor insurance was not compulsory, wouldn't you buy it? Could you afford not to? 1 Quote Link to comment Share on other sites More sharing options...
Kopek Posted August 6, 2023 Share Posted August 6, 2023 Not all racing venues have the same level of risk. Some circuits have run off areas, gravel traps and rumble strips. Some have Walls, telegraph poles and immovable objects! Insurance companies would surely take this into consideration and either ask for a premium or refuse to take on the risk? Maybe the ACU have a country wide cover to average out the risks? Quote Link to comment Share on other sites More sharing options...
Gizo Posted August 21, 2023 Share Posted August 21, 2023 the carnage continues. But because its the MGP you won't know anything about it. #everest 2 Quote Link to comment Share on other sites More sharing options...
2112 Posted August 21, 2023 Share Posted August 21, 2023 Sadly a competitor died due to their injuries received yesterday during practice. Quote Link to comment Share on other sites More sharing options...
Mr Helmut Fromage Posted August 21, 2023 Share Posted August 21, 2023 40 minutes ago, 2112 said: Sadly a competitor died due to their injuries received yesterday during practice. The tenth Government sponsored road racing death on the IOM since Covid - 10 fucking lives think about it and try and justify it. #everest but we had enough marshals……… 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 21, 2023 Share Posted August 21, 2023 On 8/5/2023 at 4:13 PM, Barlow said: I think the best advice would have been to contact his insurers and let them deal with, whatever way That's always the best advice. Why on earth wouldn't you just do that. If he had done that it would have probably got sorted. Incredibly stupid. Ooops I forgot. Yes governments fault again. Quote Link to comment Share on other sites More sharing options...
Banker Posted August 21, 2023 Share Posted August 21, 2023 2 hours ago, Gizo said: the carnage continues. But because its the MGP you won't know anything about it. #everest It’s reported fully on news outlets but don’t let facts stop the ghoul’s posting shit, bet you’re in your element crowing about it like that other tosser helmet 2 1 Quote Link to comment Share on other sites More sharing options...
Mr Helmut Fromage Posted August 21, 2023 Share Posted August 21, 2023 7 minutes ago, Banker said: It’s reported fully on news outlets but don’t let facts stop the ghoul’s posting shit, bet you’re in your element crowing about it like that other tosser helmet No crowing Bob just facts that 10 people have died in racing since it resumed since Covid. Roll up your Daily Mail and wave it in the air - the fume is strong for a Monday 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted August 21, 2023 Share Posted August 21, 2023 Not sure what’s happened on this sad death but I was told be someone heavily involved in the GP at around 3 pm yesterday. Hadn’t said anything , nearly did , but they seemed to have been able to keep it quiet till all that needed to had been informed . Quote Link to comment Share on other sites More sharing options...
Banker Posted August 21, 2023 Share Posted August 21, 2023 45 minutes ago, Mr Helmut Fromage said: No crowing Bob just facts that 10 people have died in racing since it resumed since Covid. Roll up your Daily Mail and wave it in the air - the fume is strong for a Monday Bill you’re always crowing about something, probably you’re public sector background Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 21, 2023 Share Posted August 21, 2023 58 minutes ago, Numbnuts said: Not sure what’s happened on this sad death but I was told be someone heavily involved in the GP at around 3 pm yesterday. Hadn’t said anything , nearly did , but they seemed to have been able to keep it quiet till all that needed to had been informed . And long may that continue to be the policy 4 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted August 21, 2023 Share Posted August 21, 2023 1 minute ago, Happier diner said: And long may that continue to be the policy Totally agree . Will see my BIL tomorrow and ask what happened this time to enable them to keep it as it should be . Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted August 21, 2023 Share Posted August 21, 2023 4 hours ago, Gizo said: the carnage continues. But because its the MGP you won't know anything about it. #everest It's been widely reported you fuck-wit, and what's with the #everest bollocks? They don't race motor bikes up there do they you sad little prick? 1 Quote Link to comment Share on other sites More sharing options...
Gizo Posted August 21, 2023 Share Posted August 21, 2023 31 minutes ago, A fool and his money..... said: It's been widely reported you fuck-wit, and what's with the #everest bollocks? They don't race motor bikes up there do they you sad little prick? oh dear. diddums 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted August 21, 2023 Share Posted August 21, 2023 2 hours ago, A fool and his money..... said: It's been widely reported you fuck-wit, and what's with the #everest bollocks? They don't race motor bikes up there do they you sad little prick? He & the other ghoul helmet just like gloating & not interested in facts 2 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.