What's the news?
You have probably not heard of the 'Vnuk' insurance ruling, but it's a change to insurance laws across the EU, which basically says that all member states must make 3rd party insurance compulsory for all vehicles, wherever they are used.
And that's a problem for the race tracks of Europe, as clearly no insurer is going to cover a car being taken on a track day for third party. Previously, the rule had applied only to use on the public road or in a public place. Now that definition has been changed.
"This ruling unless amended, will have detrimental effects across all EU motorsport businesses as the insurance industry have stated that "participant" to "participant" unlimited liability cover is uninsurable and won't be available" Roddy Greene, General Manager of Mondello Park, Ireland's only full-time race track, told us. "Motorsport in the EU currently provides over 100,000 jobs and generates €25 billion in revenue. In an Irish context we have over 4,500 license holders and hold over 300 licensed events annually across all forms of motorsport on both two and four wheels."
Thankfully, for all us motorsport nuts, the EU has recognised that there must be some exemptions to the rule, or the motorsport industry could become severely curtailed, and there are plans in the works to amend the rule. However, making that amendment requires majority support from member states, and then majority support from the EU parliament.
"We have met with Brian Hayes MEP, Eoghan Murphy TD and Alex Sinclair CEO of Motorsport Ireland to discuss the issue and to garner support at national and EU level" said Greene. "Brian Hayes and Eoghan Murphy fully understand the potential economic and social implications of this "Motor Insurance Directive" to both the Irish motorsport category and other sectors of industry if it is not amended. To this end, both Brian Hayes and Eoghan Murphy are working with the relevant authorities in Ireland and Europe to secure the appropriate amendment prior to the new EU insurance directive being enacted in October 2016."
So, if you love your motor racing and your track days, get on to your MEP now and start lobbying...