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Current Page: 29 of 33
Re: News and Stuff!
IanSmithISA 01 May, 2019 11:06
Good morning,

Quote:
CLOVERLEAF 888
.... That is why the track organisers have insurance....

You seem very sure about this. :-)

I am not at all sure that they do, Haas' claim for the Sepang 2017 drain cover incident took nearly a year to settle as it was a first of its kind claim.

I would expect that the race organiser would have public liability insurance but in the past this was not thought to include damage to competitors cars.

It is quite hard to know what an F1 car costs on the basis of simple replacement although it is a lot less than often quoted, so lets say 1 million for a complete new car, engine, battery pack etc.

If a race organiser is going to have to cover the possible car damage costs then they are surely going to need cover in the 10-20 million pounds region to cover something like that big crash at the start of Spa.

this could be a new specific policy or we could now reinterpret an existing public liability policy as one that covers such accidents as a drain cover or kerb damage. In either case I would guesstimate a premium increase of around a million pounds per race, is this something race organisers can afford?

If you are going for a compensation culture what happens if during the last race there is a circuit related fault which has such an impact that the championship is changed by it?

For example a drain cover comes up during the race and the championship leader spins off from 1st place on the last lap and someone else wins the drivers and constructors championship.

There are consequential losses in the 10s of millions of pounds from that.

Then we go on and in the new order would Brawn be liable for the accident where Barrichello's car lost a suspension part which hit Massa?

Once you break away from the "its all your own risk model" motor sport falls apart as it is dangerous, especially in the lower formulae.


Bye

Ian

Re: News and Stuff!
CLOVERLEAF 888 01 May, 2019 19:09
Ian, the track organisers said themselves that their insurance would reimburse Williams after Williams said they would want compensation and the Fia said they were not liable. ;-)

Re: News and Stuff!
j-s 01 May, 2019 20:04
Insurance... more entertaining than the actual racing among Williams fans...

Re: News and Stuff!
Mikef1 01 May, 2019 20:30
Quote:
IanSmithISA
Good morning,
Quote:
CLOVERLEAF 888
.... That is why the track organisers have insurance....

You seem very sure about this. :-)

I am not at all sure that they do, Haas' claim for the Sepang 2017 drain cover incident took nearly a year to settle as it was a first of its kind claim.

I would expect that the race organiser would have public liability insurance but in the past this was not thought to include damage to competitors cars.

It is quite hard to know what an F1 car costs on the basis of simple replacement although it is a lot less than often quoted, so lets say 1 million for a complete new car, engine, battery pack etc.

If a race organiser is going to have to cover the possible car damage costs then they are surely going to need cover in the 10-20 million pounds region to cover something like that big crash at the start of Spa.

this could be a new specific policy or we could now reinterpret an existing public liability policy as one that covers such accidents as a drain cover or kerb damage. In either case I would guesstimate a premium increase of around a million pounds per race, is this something race organisers can afford?

If you are going for a compensation culture what happens if during the last race there is a circuit related fault which has such an impact that the championship is changed by it?

For example a drain cover comes up during the race and the championship leader spins off from 1st place on the last lap and someone else wins the drivers and constructors championship.

There are consequential losses in the 10s of millions of pounds from that.

Then we go on and in the new order would Brawn be liable for the accident where Barrichello's car lost a suspension part which hit Massa?

Once you break away from the "its all your own risk model" motor sport falls apart as it is dangerous, especially in the lower formulae.


Bye

Ian

There are bespoke track insurances. After all it's very profitable it's not typical of a circuit to cause damage to a car. What is difficult is justifying the cost to reach a settlement. It's not like these are spec peices and William's perceived value versus that of the Circuit are 2 different things.

Re: News and Stuff!
phatjack 01 May, 2019 21:06
I have difficulty contemplating what Williams would have done if lighting struck their motor home.

Re: News and Stuff!
Williams-123 01 May, 2019 22:23
Quote:
j-s
Insurance... more entertaining than the actual racing among Williams fans...

Haha....Yep.

Re: News and Stuff!
speed 01 May, 2019 22:28
Quote:
phatjack
I have difficulty contemplating what Williams would have done if lighting struck their motor home.

What would you have done if lightening had struck your car (with nobody inside at the time)?

Re: News and Stuff!
Williams-123 02 May, 2019 04:13
Quote:
phatjack
I have difficulty contemplating what Williams would have done if lighting struck their motor home.

If lighting struck their motor home Williams probably would have tried to get compensation for that....Maybe they would have asked god for compensation if that happened.

Re: News and Stuff!
Williams-123 02 May, 2019 04:14
Williams have become the compo claiming kings (Sm18)

Re: News and Stuff!
Ozzy Osbone 02 May, 2019 15:51
Acts of God are not covered by most policies as most people know. Also War, pestilence etc.

I would imagine that neither the track or the teams would be able to insure against the consequences of driver or component failure during a session but I am sure they will have insurance against failures of the infrastructure (such as drain covers). They will also have a hefty public liability policy.

Re: News and Stuff!
pixel 02 May, 2019 21:12
Joe Saward is reporting that Simon Roberts is leaving McLaren for pastures new.

Would Williams be able to use someone with his experience?

Re: News and Stuff!
phatjack 02 May, 2019 21:33
Quote:
Ozzy Osbone
Acts of God are not covered by most policies as most people know. Also War, pestilence etc.
I would imagine that neither the track or the teams would be able to insure against the consequences of driver or component failure during a session but I am sure they will have insurance against failures of the infrastructure (such as drain covers). They will also have a hefty public liability policy.

I liken this to GR and RK being instructed to keep of the curbs. You never know when it can bite you on the rear.

I would bet Williams understands acts of God mean different things depending on which side of the pond you call home?

Re: News and Stuff!
CLOVERLEAF 888 04 May, 2019 00:02

Re: News and Stuff!
j-s 04 May, 2019 01:45
Yeah! Go Williams!

Re: News and Stuff!
Ozzy Osbone 04 May, 2019 04:56
Quote:
phatjack
Quote:
Ozzy Osbone
Acts of God are not covered by most policies as most people know. Also War, pestilence etc.
I would imagine that neither the track or the teams would be able to insure against the consequences of driver or component failure during a session but I am sure they will have insurance against failures of the infrastructure (such as drain covers). They will also have a hefty public liability policy.

I liken this to GR and RK being instructed to keep of the curbs. You never know when it can bite you on the rear.

I would bet Williams understands acts of God mean different things depending on which side of the pond you call home?

Not sure what point you are trying to make buddy. Anyway, Baku are paying up for trashing our car. All sorted.

As far as I am aware the instruction to keep off the curbs was because a multi million pound company didn't have any spare bits in case some got broken. Deeply embarrassing but it is what it is. I hope Patrick Head is in there reading the riot act as we speak.

Re: News and Stuff!
Polemik 04 May, 2019 08:40
double post



Edited 2 time(s). Last edit at 04/05/2019 08:55 by Polemik.

Re: News and Stuff!
Williams-123 04 May, 2019 09:47
Quote:
Ozzy Osbone
Anyway, Baku are paying up for trashing our car. All sorted.

All sorted you say but how long before the Williams team actually see the cash?

It seems all sorted but do Williams actually have the cash in their bank account yet?

Re: News and Stuff!
CLOVERLEAF 888 04 May, 2019 10:48
Quote:
Williams-123
Quote:
Ozzy Osbone
Anyway, Baku are paying up for trashing our car. All sorted.

All sorted you say but how long before the Williams team actually see the cash?

It seems all sorted but do Williams actually have the cash in their bank account yet?

No they dont but at least it's a step in the right direction to help our team survive. Of course if it does drag on, that might just affect any chance of even trying to make progress. Who knows. Fingers crossed I reckon 123 that it turns up via faster payments.
☺️

Re: News and Stuff!
Williams-123 04 May, 2019 13:08
Is Jamie Chadwick really Lance Stroll wearing a wig???

Re: News and Stuff!
Williams-123 04 May, 2019 13:10
Jamie Chadwick....Lance Stroll with a wig on???

Current Page: 29 of 33

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