U.K. Racing Assn. Hires JLT Over Lockton

The governing body for auto racing in the United Kingdom said it has replaced Lockton International as the insurance broker for its multimillion-dollar account with Jardine Lloyd Thompson, saying JLT offered "new ideas."

The Motor Sports Association, the governing body of United Kingdom motor sport, said today that it has appointed London-based Jardine Lloyd Thompson Limited to handle all its insurance requirements for 2008.

The MSA said the brokering contract was held by the London unit of Kansas City, Mo.-based Lockton. Lockton acquired the London business after its acquisition of Alexander Forbes International Risk Services in late 2006.

In a statement, the MSA said it "was impressed by the fresh thinking brought to the table by JLT, whose experiences gained in Australia across a wide range of sports will be of great value to motor sport in the United Kingdom."

The MSA thanked its former broker for its year of service, adding that Lockton would continue to be active in the sport.

Tony Venning, JLT partner and practice leader for sport and entertainment, noted the broker would be providing innovative online insurance and risk management solutions.

Lockton's office in the United Kingdom issued an e-mail statement saying, "Lockton continues to be one of the major suppliers of insurance broking services to motor sports clubs and participants in the U.K. and Ireland.

"We insure the governing and authorizing bodies of six of the leading motor sports associations. We also provide insurance for a wide range of other motor sports events, clubs and members that are associated with the Motor Sports Association (MSA) and continue to enjoy strong relationships with these customers."

The MSA, according to its Web site, implements the General Regulations governing motor sports. These rules are made and amended by the Motor Sports Council, which is the "parliament" of motor sports, while the MSA acts as the "civil service."

MSA states that while the British Grand Prix and the Rally of Great Britain are the flagship motor sports events in the U.K., the MSA is also concerned with 34,000 license holders, 10,000 volunteers and officials, and 5,000 events taking place in the U.K. each year.