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To all our Racing Members,
You may be aware that within your entry fee for every meeting there is a small proportion that goes to pay the ACU a premium for your insurance. The ACU uses this to pay the underwriters for the insurance.
The details of your coverage are here: CLICK HERE
This insurance premium also extends to cover the Club’s public liability costs at each meeting.
There have been no appreciable changes in insurance rates over the last 5 years. Cover is maintained via a mix of underwriters.
One the original underwriters in the suite of companies that the ACU were using has withdrawn from the market in the last year. This has also coincided with an increase in the number and value of claims in the last 12-24 months across the sport.
The changes in underwriting coupled with the claims history has resulted in in the ACU’s projected insurance premium rising significantly for 2022.
This is to be passed on directly within the per capita costs that clubs are required to pay for ACU Premium insurance cover and was advised to clubs at the ACU Road Race Committee in late December.
This will have the effect of raising the premium for a solo rider from £21 to £28.50 at each meeting (this is part of your entry fee).
The Club had announced that its intention was to avoid changing entry fees in 2022 - but such a significant change leaves us with no alternative but make some minor adjustments...
Each entry fee, each testday fee and each extra class fee will rise by £5 across the board. This will go some way to recover the direct increase on insurance premiums.
Without this, the additional insurance cost to the Club for the season would be over £20k. The £5 increase on an entry fee is a partial contribution towards the increase - the Club will cover any difference.
We know changes to costs all add up when it comes to racing - not a cheap hobby. This will affect all clubs in all branches of the sport in the UK.
We hope it does not affect our members plans too drastically and we look forward to seeing you at the first round Brands in March.