We do not carry liability insurance, mainly due to the perceived cost of said insurance, we feel our risk is minimal, and we don't want to become a law suit magnet. To cover our butts in this respect, we have been asking race promoters to add us as an additional insured to their policy. This has been working out well for us, until now.
Recently we have been seeing an increasing trend where race promoters are requiring us to name them as additional insured on our policy. This has been especially prevalent where the promoter has been a governmental organization. In the past we've blown off these races because they are too small and not worth the effort and expense. But now, some of the larger races we would like to time are starting to require it.
I have a couple questions about this:
1) How are other race timers handling situations like this?
2) We are considering caving. Does anybody have any recommendations of where to start? The few companies I have contacted, including those specializing in sporting events, don't have a category for race timers and are either going to call me back or aren't willing to cover us.
Mac
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