Liability Insurance Requirements.
Dear Competitors, We understand several of you are having difficulties in procuring liability insurance to meet the requirements of the Beacon Group A-Class World Championship 2022. As you may know, we reduced the liability requirements from $1,000,000 USD to $300,000 USD on April 12, 2022, due to numerous requests. We have been working for the past few weeks attempting to find a solution to offer to all of the international sailors to purchase their insurance coverage at the regatta venue. Unfortunately, there is no insurance product available we could find that meets our requirements. This issue also appears to be worldwide, as insurance has become very, very difficult to obtain. We have discussed this problem with many of you, and thoroughly with Charles Bueche, IACA President. This note is to emphasize that we are bound not only by the Notice of Race, but by Championship Rule 15.1, which reads: “Insurance and Disclaimers. A valid third party insurance shall exist for each participating boat, evidence of the insurance shall be given by the competitor at registration when documents are checked by the Organizing Committee.” Based on this Rule, it is therefore unavoidable that you must obtain a liability insurance policy for $300,000 USD (or its equivalent) to provide to registration at check-in. Please plan your travel and attendance accordingly. Regrettably, Bob Webbon