View this article online: https://www.insurancejournal.com/news/national/2015/12/02/390764.htm
Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) is launching a dedicated motorsports unit in North America to be led by David Cloward, Global Product leader for Live Entertainment, effective January 1, 2016.
National Program Management will be led by Kelly Iwan, Entertainment executive underwriter for AGCS. This new division will offer coverage designed exclusively for racing facilities, events, teams, sponsors and sanctioning bodies.
Under the global AGCS Entertainment umbrella, this launch will begin in the U.S., followed by expansion into Canada and Europe in the coming years.
AGCS has aligned with Alive Risk as its managing general agent (MGA). Specializing in motorsports, Alive Risk has underwriting, risk management and claims expertise of racing facilities, events and teams. Alive Risk is a division of All Risks, Ltd., the largest independently held broker in the U.S.
The global AGCS Entertainment arm was formed in January of 2015 after the integration of the commercial insurance business of the Fireman’s Fund (FFIC) into AGCS.
In the U.S., motorsports draw an annual attendance estimated at more than 15 million. As these events are heavily promoted and designed to maximize entertainment value, they involve a variety of supporting engagements, including secondary races, qualifying time trials, auto launch parties, celebrity driver appearances and related broadcast and media activity.