The contract had been held by insurance broker, Lockton, following their acquisition of Alexander Forbes International Risk Services business and related structure in November 2006. The MSA was impressed by the fresh thinking brought to the table by JLTL, whose experiences gained in Australia across a wide range of sports will be of great value to motor sport in the UK.
Jardine Lloyd Thompson Limited is part of the JLT Group of companies which is quoted on the London Stock Exchange and is one of the largest firms of its type in the world. JLT operates out of more than 100 offices in over 30 countries and employs more than 5,000 personnel. The group is a leading risk management adviser and insurance and reinsurance broker.
Colin Hilton, MSA Chief Executive, said: "Insurance cover is a critical issue for the whole of motor sport and the MSA provides millions of pounds worth of insurance cover for the sport, without which the sport would be unacceptably exposed.
"JLT's approach was refreshing and they have some excellent new ideas that will make a real difference to the MSA and, by extension, our members. For example, JLT has demonstrated that clubs will be able to administer their own Risk Assessments online and this will be a huge benefit for many people.
"I would like to thank everyone at Lockton for their support and service in recent years; they will continue to be active in motor sport and we wish them well."
Tony Venning, JLT Partner & Practice Leader for Sport and Entertainment said: "JLT Sport is delighted to be joining forces with the MSA. Our aim is to partner the MSA and most importantly their membership, to provide innovative methods of delivering insurance and risk management services that will provide sustainable and tangible benefits which contribute to the continued enjoyment of motor sport in the UK.
"We have experience in providing innovative online insurance and risk management solutions to a number of sports around the world. We look forward to partnering with the MSA to deliver a new and fresh thinking approach to insurance and risk management that's designed specifically for motor sport."
Clubs and members should note that existing insurance cover is not affected by this change and all arrangements will remain in place.
No regulatory value: for information purposes only
Issued on behalf of the Motor Sports Association by Fingal
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