The Fédération Internationale de l'Automobile has launched a new taskforce to investigate the costs and availability of insurance in the motor sport market. The FIA is the global governing body for motor sport and also promotes safe, sustainable and accessible mobility for all road users worldwide.

The FIA said the new taskforce was being launched in response to escalating premiums, restricted coverage, and reduced access to insurance. It said these issues risked the sustainability and growth of motor sport at a global level.

The new taskforce will provide educational resources, promote understanding, and drive cross-governmental engagement to make it easier for FIA members to navigate the insurance landscape. It will produce a report on the scale, scope and impact of existing challenges related to insurance at the FIA’s annual general meeting in December.

Mohammed Ben Sulayem, president of the FIA, said: “The FIA is committed to ensuring motor sport and mobility are safe, sustainable, affordable and accessible, while driving global growth. Rising insurance costs risk limiting opportunities and undermining accessibility across the world. To address this, we must work hand in hand with our clubs, insurers, and local authorities to deliver solutions that keep our sport safe, fair and sustainable for all.”

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