October 08 2020
As businesses around the world were suddenly “locked down” due to the Covid-19 Pandemic, the Crescent Racing-operated Yamaha WorldSBK project, and the series itself, faced the same restrictions. To protect the staff and the overall project itself was the immediate concern, and like many businesses our first call was to our long-term insurance partner, Tysers. While the name has recently changed – from Integro to Tysers following a strategic purchase which almost doubled the business in size – the company has fully retained its 35 years of experience representing clients in every major motorsport championship and across the entertainment industry.
At the beginning of the health crisis, the team at Tysers had many issues to contend with, not least the huge volume of clients to connect with. Despite the fact that Global Pandemics are specifically excluded from most policies and are not “priced in” by the insurer within the risks covered, Tysers’ level of personal service and attention to detail left Crescent’s team in no doubt that no stone had been left unturned.
Thereafter, Tysers took a different and very pro-active approach, seeking to save the team vital budget on premiums already agreed due to postponements and cancellations of certain events, and the subsequent reductions in risk. This was achieved positively and – aligned with advice and support with regard to our covering all aspects of our comeback to WorldSBK racing – we were able to count on Tysers as a broker who genuinely lives up to their “aftersales service” reputation. This has helped the team and Yamaha come back to racing in the knowledge that we have their resources to rely on when things “go wrong”.
Paul Denning - Team Principal - Pata Yamaha WorldSBK Official Team:
“The comeback to testing and racing after the lockdown period raised many challenges for both the team and for Yamaha. Specifically, we were concerned regarding our liabilities and any affects to our existing insurance cover due to the pandemic – for example our private health and travel policies, and our liability coverage. Tysers were able to verify all the relevant details and to provide the team with much-needed peace of mind so that we could focus upon getting back to work. On top of this, their efforts to negotiate improved costs with the insurers was a real help at a time when commercial pressures were paramount. It’s nice to go about your work knowing that Tysers’ personal service and expertise is always there in the background.”
Tysers’ specialist Entertainment and Sport practice covers a wide variety of sport, motorsport and events as well as touring shows, artists, festivals, venues and infrastructure companies. Their expertise provides the Pata Yamaha WorldSBK Official Team with Rizla, Crescent Racing and Yamaha Motor Europe with unique and innovative solutions to safeguard risk exposure across many key areas, including:
- Director and team member travel, accident, medical and repatriation cover
- Rider travel, accident, medical and repatriation cover
- Complete global racing team cover
- Race team headquarters building and all required cover
- Race transport, goods in transit or storage, global transit and trackside cover for machinery, parts and equipment
- Contract bonus cover for championship and race results exposure
- Rider replacement cover
- All forms of liability cover for trackside, racing (including individual staff) and technical suppliers