Motorsport Australia Engages Specialist Insurance Brokers for Motorsport Coverage

Motorsport Australia has announced the selection of MGA Insurance Group and Miller Insurance as their new insurance brokerage partners.

CEO Sunil Vohra elaborated that the goal is to establish a premier insurance brokerage representation model.

“This hybrid approach offers optimal Australian coverage while prioritising claims service, alongside access to leading authorities in motorsport placement within the London markets,” Vohra noted.

“This partnership is integral to formulating a modern insurance framework that aligns with our member-first strategy.”

“The new setup aligns with Motorsport Australia’s enhanced commitment to the insurance and risk management programme of the sport, taking cues from global best practices and implementing those insights across all facets of motorsport in Australia.”

MGA Insurance Group will act as the local, member-facing representative, providing a more agile and responsive claims process, whereas Miller Insurance will represent the organisation’s interests on the global insurance stage.

“When our members need assistance, they can expect robust support through the claims process, and Motorsport Australia’s engagement with the global insurance markets will benefit from enhanced data analytics and motorsport expertise,” Vohra added.

Paul George, Managing Director at MGA Insurance Brokers, expressed enthusiasm about the new partnership.

“Being chosen to deliver insurance and risk advisory services is a significant endorsement of our team’s capability and dedication,” George stated.

“We are keen to collaborate closely with Motorsport Australia’s leadership and support international placement markets to achieve meaningful outcomes. This marks the start of what we foresee as a strong and collaborative partnership moving forward.”

“Our team is well-versed in the unique risks associated with motorsport and is fully equipped to provide innovative, cost-effective insurance programmes that emphasise safety, protection, and long-term sustainability for Motorsport Australia, its members, and stakeholders.”

Tim Nagle, Head of Sport & Entertainment and Head of Europe at Miller Insurance, commented on the partnership with MGA Insurance Group to provide a modern, world-class insurance programme for Motorsport Australia’s members.

“As specialists in motorsport insurance, Miller understands the intricate risks encountered by governing bodies and clubs at all levels of the sport,” Nagle explained.

“Our specialisation, along with our extensive experience in the broader Sports & Entertainment risk landscape, enables us to create optimal insurance solutions that cater to this sector’s unique requirements.”

“Our partnership with MGA Insurance Group showcases our capabilities in the Asia-Pacific region, as we harness substantial market expertise and reliable carrier relationships to deliver customised insurance solutions that facilitate effective governance in sport throughout the region.”

Miller Insurance boasts unparalleled motorsport insurance expertise, with clients including the Fédération Internationale de l’Automobile (FIA), Formula 1, and various national sporting bodies. This knowledge, combined with industry-specific data analytics, supports informed governance decisions and proactive risk management strategies for Motorsport Australia.

Vohra emphasised that the collective expertise benefits members and the sport overall, as it helps formulate an insurance model that is competitive and as cost-effective as possible.

“Strong representation of Motorsport Australia’s risk management profile in the London insurance markets will help exert downward pressure on premiums, thereby providing further support to grassroots clubs and the organisation’s community of over 12,000 volunteer officials,” Vohra concluded.

“This new model establishes a world-class brokerage standard to better equip Motorsport Australia against global insurance trends from the past five years, where rising premiums have impacted all areas of the sport. This strategic partnership foster a more sustainable future for motorsport in Australia.”

Members of Motorsport Australia can learn more about MGA Insurance Group and Miller Insurance by visiting motorsport.org.au/insurance.