Mohammed Ben Sulayem, President of the Fédération Internationale de l’Automobile (FIA), has announced the creation of a new global task force to provide clarity on motor sport insurance policies and address the growing challenge of rising costs.
The motor sport industry has seen escalating premiums, reduced access to cover, and restricted policy terms – developments that threaten the long-term sustainability and growth of the sport on a global scale.
The newly established FIA Motorsport Insurance Task Force has been charged with examining this issue in depth, drawing on the FIA’s extensive expertise from its work in the mobility sector to deliver practical recommendations and clear guidance for Member Clubs.
Harnessing the FIA’s unique position at the intersection of mobility and motor sport, the committee will provide educational resources, promote global understanding, and engage with governments and regulators to support Member Clubs as they navigate the shifting insurance landscape.
FIA President Ben Sulayem said: “The FIA is committed to ensuring motor sport and mobility are safe, sustainable, affordable, and accessible, while driving global growth. Rising insurance costs risk limiting opportunities and undermining accessibility across the world.
“To address this, we must work hand in hand with our Clubs, insurers, and local authorities to deliver solutions that keep our sport safe, fair, and sustainable for all.
“Our Members are at the heart of everything we do at the FIA, delivering outstanding work worldwide in both sport and mobility. As their federation, it is our duty to provide clarity, guidance, and representation in global governance on issues that shape the future of motor sport.”
The initiative was introduced by the FIA President and will be led by the organisation’s Secretary Generals for Sport and Mobility. Secretary General for Sport, Valerio Iachizzi, said: “Motor sport thrives on opportunity and accessibility. Rising insurance costs present a serious challenge to maintaining this ecosystem, particularly for grassroots competitors and organisers.
“Working closely with our Clubs, promoters, and insurers, the FIA is determined to safeguard pathways into our sport and ensure that motor sport remains open and achievable for future generations around the world.”
Secretary General for Mobility and Sustainability, Willem Groenewald, added: “In mobility, affordability and safety are central to delivering sustainable transport solutions, and these principles are directly relevant to the challenges motor sport is now facing.
“Our experience in working with governments, regulators, and the insurance sector to protect consumers and keep mobility accessible provides us with valuable expertise that can also benefit our sport.”
The task force’s priorities include:
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Examining the scale, scope, and impact of rising insurance costs
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Identifying key issues and underlying causes
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Developing benchmarks and metrics to assess financial and operational effects
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Evaluating potential risks to the future of motor sport if no action is taken
The assessment phase is now underway, with an interim report due to be presented at the FIA Annual General Assemblies in Tashkent, Uzbekistan, this December.