UK Govt. reverse Vnuk motor insurance rule

UK Govt. reverse Vnuk motor insurance rule 1920 1280 James Hallam

he James Hallam Sport team is pleased to note that the UK Govt. is to withdraw from the ‘Vnuk’ legislation passed by the EU in 2018, which has been a regular talking point and threat to the UK motorsports industry since 2014, when the law was first considered.

The law, which forms part of the EU’s MID, requires all motorised vehicles to be insured for compulsory and unlimited liability risks, including those whilst being used on private land, so captured the use of racing vehicles, pit scooters, and all other working vehicles operating within the confines of a motor sports venue, including whilst on track.

Securing coverage at the limit of liability required is just not feasible, from either the specialist motorsport liability market who cannot provide such capacity limits, or the motor insurance providers who have no appetite for such risk exposure, so it is timely that the Govt. has made their decision to scrap the ruling.

Our team had highlighted this matter to our clients over the preceding years, and encouraged them to support the Motorsports Industry Association’s campaign to lobby both EU and UK legislators to overturn the ruling, so its good news for the industry to see common sense prevail, at least in the UK.

Within the EU, there is no such liability insurance for motorsport risks available either, and it is understood that there is an appeal to exempt motorsport from the law, let’s hope their policy makers follow ours to keep motorsport on track!

James Hallam Limited purchase Motor Race Consultants Insurance Services Limited

James Hallam Limited purchase Motor Race Consultants Insurance Services Limited 1920 1280 James Hallam

James Hallam Ltd. has completed the purchase of Motor Race Consultants Insurance Services Ltd. (MRC). MRC was formed in 1972 by Barry Bland and is a business with whom the Sports Team has worked very closely over a period of the last 20 years.

Based in Dorking, and closely connected to the Motorsport world through their relationships with Drivers, Managers, Sponsors and Governing Bodies, their current portfolio complements our core business areas of Personal Accident, On Track, Team Equipment and Liability insurance.
James Hallam Sport will be drawing on the strength of the MRC brand to enhance their existing offering.

Paul Anscombe CEO says “I am really pleased to welcome MRC into our Group. The opportunity to expand one of our existing specialist areas is very exciting. It is a sector of business where the broker adds enormous value through sector knowledge and market relationships”