MSUK licence now mandatory for all events

MSUK licence now mandatory for all events

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Discussion

Dynion Araf Uchaf

2,600 posts

182 months

Wednesday 8th January
quotequote all
andya7 said:
Looking at their 2018 accounts it does state;

'We are also drawing a line under all past claims such that Motorsport UK will bear the cost of all outstanding claims, including those not yet reported. The board has reviewed outstanding claims and made provision for all known claims and an estimate of incurred but not reported claims. A sum of £1,350,012 has been released to the income statement'

So, maybe some truth on the self insurance side.

The accounts also show £582k of director emoluments (max single director £246k + £30k pension), I am not knocking anyone for 'getting what they can' but but a ~£300k package does seem a little excessive, essentially for a business turning over £9.5m and managing 50 staff?

If you consider that 30% of income is a simple 'admin' process of licencing? (licences £2,631,000) then it does look like the turnover can't sustain highly paid directors? (let alone how powerfully built they are)

... and they say they don't have any money?
one wonders whether they are getting the right advise regarding insurers, and maybe they might be getting their leg pulled a bit, However if no official insurance then no more need for excessive rule changes to appease the healf and safety fascists.

df76

2,654 posts

237 months

Wednesday 8th January
quotequote all
Dynion Araf Uchaf said:
However if no official insurance then no more need for excessive rule changes to appease the healf and safety fascists.
Not sure I understand...

Dynion Araf Uchaf

2,600 posts

182 months

Wednesday 8th January
quotequote all
df76 said:
Not sure I understand...
lots of expensive changes to regs like living seat or fire extinguishers, driven in part if not entirely by insurance implications. May be not required now.

velocemitch

Original Poster:

3,061 posts

179 months

Wednesday 8th January
quotequote all
I think you may have got the wrong end the stick there.
What MUK are saying there is they have set aside a reserve fund to cover possible claims which may still arise from previous accidents. Not to cover for future ones!.

The brand spanking new insurance deal which they have negotiated will cover those.

Health and safety is still ever present and nothing much will get any easier or cheaper in that respect.

Kraken

1,557 posts

159 months

Thursday 9th January
quotequote all
Dynion Araf Uchaf said:
lots of expensive changes to regs like living seat or fire extinguishers, driven in part if not entirely by insurance implications. May be not required now.
They've extended the life of seats and harnesses for MSUK events. Fire extinguishers needed sorting, the fact that there were many people moaning on Facebook that they couldn't get their 15 year old extinguisher serviced when the rules changed showed that not everyone was going with the recommendations. I always had mine serviced every two years. I'd rather spend £25 a year extra on that than see it fail when I needed it. Some people obviously don't care.

df76

2,654 posts

237 months

Thursday 9th January
quotequote all
Kraken said:
Some people obviously don't care.
And that's the big problem isn't it. Motorsport UK have to deal with morons that don't care about their own safety let alone anyone else, fellow competitors or the public. So H&S has to be tight and cover the idiot factor, they certainly wouldn't get appropriate insurance otherwise (and then there'd be no sport).


Edited by df76 on Thursday 9th January 17:46