View Single Post
  #54 (permalink)  
Old 07-04-2005, 01:54 PM
What'saCobra? What'saCobra? is offline
CC Member
Visit my Photo Gallery

 
Join Date: Feb 2004
Location: Outside Miami, FL
Cobra Make, Engine: Several
Posts: 949
Not Ranked     
Default

Well, wreckless endangerment could be a serious, but manageable charge.

No insurance cover because they breeched their safety warranties would expose them ALL to berry big buck liabilities...enough to submerse the sport in the USA...if there was a serious enough event as a result of ignoring the safety warnings.

Few folks recall how important insurance is to the sport and events in general. For instance, one of the serious problems in the NASA space programs has always been getting insurance to cover the risk of launches, space vehicles and satellites.

There exists a very good chance that the latest shuttle launch was delayed 'til the 13th of July because the insurance company refused cover without proper documentation of the corrective actions and of normal launch procedures.

FI USA is the same. When you buy cover, you agree to certain 'rules' such as following the FIA race safety measures and the recomendations of various suppliers in using their equipment. You agreement to these terms is posited in most policies somewhere as a 'Warranty of Performance' by you in exchange for coverage. You break your word, or breech your warranty and you are out in insurance limbo, without a friend.

You can buy BOW insurance also, but it is expensive. You buy it all the time when you purchase your car on payments. The loaner always wants his owed balance insured, even if you drink and drive on the wrong side of the road.

Tough to buy for an F1 race. But, i'll bet the track was covered, some; but not even enough.
__________________
"A free people ought not only to be armed and disciplined but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government."
George Washington
Reply With Quote