Asian Motor Sports

Every V8 Supercar Championship Series and Fujitsu V8 Supercar Series driver will be required to have a minimum $500,000 insurance cover in order to compete in either category.

The board of V8 Supercars Australia has made the insurance mandatory as of next week’s third round of the Championship – the Hamilton 400 in Hamilton, New Zealand. The insurance will also include drivers who compete in the two endurance races of the year, the L&H 500 at Phillip Island and the Supercheap Auto Bathurst 1000.

All drivers are required to present their current insurance details to V8 Supercars Australia by this Friday (April 11) or take out the insurance through V8 Supercars Australia or a provider of their choice. V8 Supercars Australia has offered an insurance package in recent years on a non-compulsory basis.

“The board felt the need to ensure drivers have an adequate financial safeguard in the case of any severe accidents,” V8 Supercars Australia Chief Executive Officer Wayne Cattach said.

“This is in no way pointed towards any particular incident, more a measure that the board wanted to adopt and has been discussing for several months. It is common sense that we as a sport play a part in the welfare of our competitors in the same way we deliver the highest of safety standards as directed by the FIA.

“Many of our drivers have individual insurance in place, this is more of a checking process. If they are not adequately insured they will be required to take out insurance that provides a minimum cover of $500,000.

“In the past this type of insurance has been very difficult to obtain but is now readily available and extremely inexpensive. Some drivers may not have recognised how easily obtainable a high level of insurance is.

“Of course drivers can upgrade the cover if they choose.”

Leading driver Steven Richards said all drivers should have a minimum level of cover in a profession that clearly can be dangerous.

“We choose to take part in a profession that can be dangerous from time to time so it is part of our responsibility to ourselves and our families to have the adequate cover in place,” the Ford Performance Racing driver said.

“The last thing I would want is to be survived by a wife and kids who have no means of getting back on their feet should something happen to me on a racetrack.

“I’d encourage any racing car driver to ensure that they are looking after themselves and ensuring that they have the right individual cover.”

The mandatory insurance comes as V8 Supercars Australia look to protect the welfare of drivers and in addition to working with CAMS and the FIA to ensure the sport complies with the highest safety regulations.