Riponian Rally organisers mitigate risk with Shepherd Compello Motorsport Insurance cancellation policy
7th February 2022
Following two successive years of cancellation due to exceptionally high winds in 2020 and the national COVID restrictions in place at the time in 2021, organisers of the Riponian Stages Rally took the decision to mitigate the risk of another failure-to-run when it came to this year’s event on 6th February, by taking out an event cancellation policy with Shepherd Compello.
Promoted by Ripon Motor Sport Club, this highly popular rally featuring stages within the North Yorkshire forests first took place in 1969. Consequently, its two-year absence had a significant impact on the club and everyone involved with this well-established annual event.
It was hardly surprising, therefore that organisers opted to take out a policy to cover a significant amount of the club’s financial exposure, should the event not go ahead for a third time in as many years. Having discussed the level of risk with Shepherd Compello’s experienced motorsport insurance team, a tailor-made policy was put together that would cover the club’s out-of-pocket expenses.
For a premium of just under £300, the policy arranged by Shepherd Compello would compensate for over £7000 of expenses, had the event been abandoned or cancelled due to unforeseen circumstances such as adverse weather – a realistic possibility when the rally’s annual date is set for the first weekend in February.
The costs covered by the policy included pre-event payments for National Parks footpath authorisations, the competitor entry system, governing body and association fees, road closure notices, start, finish and HQ venue deposits, Forestry land deposits, printing and graphics, vehicle hire, awards, accommodation deposits and postage - although this list is not exhaustive.
Having been an event and championship organiser himself, Shepherd Compello Motorsport Insurance Senior Broker Mark Taylor was complimentary of Ripon Motor Sports Club’s decision to take out a cancellation policy:
“With all the hard work that goes into organising a rally the size of the Riponian, it’s incredibly disappointing – and frustrating – when for whatever reason, the event can’t take place. This is not to mention the financial implications of having to cancel, especially when you can’t see the problems coming.
“I’m very pleased that after consulting with the organisers, we were able to provide cover for the main out-of-pocket expenses for a very reasonable premium. Having been an organiser myself, I know that mitigating the risk of financial exposure really does reduce the worry when it comes to the consequences of cancellation.
“Therefore, when you take into account all of the outside influences that we appear to have little control over nowadays, it makes complete sense to insure against some of the risks and I would recommend to all clubs and not-for-profit organisations to follow the Ripon Motor Sport Club’s lead and take out an event cancellation policy with us.”
To find out more about Shepherd Compello’s fit-for-purpose motorsport insurance policies, visit: www.shepherdcompellomotorsport.com