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Virtual Race Insurance

Should I Insure My Virtual Race?

Yes, you should insure your virtual race. Here’s why – insurance will cover your defense costs.

Participation waivers are great. Critical, even. But they will not prevent someone from suing you. Should a lawsuit land in your inbox or the Sheriff personally serve the notice, you’ll need to defend yourself. This is why event liability insurance policies were invented.

Here’s the wild problem: Event liability policies are mechanically designed to insure a certain space and time (ie; the race that follows a specific course, on a certain date, between certain hours). This doesn’t jive with a virtual race – that may or may not be tied to a specific course and can span weeks. That said, even if you wanted to buy insurance… you couldn’t… because it didn’t exist.

As we watched COVID-19 force race after race to convert to virtual format, we began creating a solution for this massive coverage gap. Working with Tokio Marine-Houston Casualty, one of the largest event insurers in the world, we completely retooled event liability insurance to fit the virtual race exposure.

This retooling was a heavy lift. It required a holistic approach. Attorneys crafted specific waiver language. RaceJoy is the GPS-based tracking software solution that allows us to quantify risk.  RunSignUp will be the gravitational force at the center of it all.

Here are the details:

For Virtual Races That Follow a Set Course:
We can offer $1,000,000 in event liability coverage – that includes participants – as well as spectators and volunteers when the following parameters are met:

    • Course must be closed to vehicle traffic.
    • Participation is limited to daylight hours (no night runs).
    • Online registration must be provided my RunSignUp.
    • Race Timer must be RaceJoy Certified.
    • Participants must use RaceJoy smartphone app.
    • Course must be inspected prior to start of the race.
    • Maximum Distance is 13.1 Miles (Half Marathon).

    The minimum cost is $300 per policy.

  • We can insure multiple commonly-owned events on a “master” policy to improve the economics.

For Virtual Races That Do Not Follow a Set Course:
We can offer $1,000,000 in event liability coverage – that excludes participants – but will include spectators and volunteers.

However, we can provide $50,000 in participant accident coverage. This way, in case a participant sends you a $3,000 medical bill, you would have some coverage.

The minimum cost is $250 per policy.

We can insure multiple commonly-owned events on a “master” policy to improve the economics.

All of our virtual event liability policies include:

  • Blanket Additional Insured status for certificate holders.
  • Blanket Waiver of Subrogation included.
  • Access to attorney-reviewed participation waivers.
  • 24/7 Access to issue certificates of insurance.

Hopefully you will never need insurance. But it only needs to work once to pay for itself.

  • General Liability
  • Participant Liability
  • Participant Accident Medical
  • Event Cancellation
  • PCI Compliance Liability
  • Data Breach Liability
  • Abuse & Molestation Liability
  • Property & Inland Marine Coverage
  • Hired & Non-Owned Automobile Liability
  • Employee Dishonesty
  • Umbrella
  • Workers’ Compensation

If you would like a quote, please complete the fields below and click submit. We will email you our quote within 24-hours. If your insurance need is more urgent, please contact our office at: 508-304-6106 or email Scott Sutter at scott@srtins.com.