Insurance cover delays motorsport season
Friday, May 12, 2023 | 30 Views |
Ready to roar: The motorsport season has been delayed by insurance issues
Speaking to Mmegi Sport, BMS president, Simon Modisaemang said the engines have been on hold for a deliberate reason, which is to satisfy all the necessities for public liability to avoid possible sanctions by the world governing bodies, the FIA and the FIM.
Public liability is the competitor's and association's insurance cover. These include insurance cover where there is an incident involving a competitor and a third party.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...