Canadian Underwriter
News

Extreme sports on the rise


January 23, 2008   by Canadian Underwriter


Print this page Share

The extreme sports market is evolving, with an increasing number of people participating in extreme sports and an expanding number of sports being added to the category, according Lloyd’s.
“The demand for our products has been growing a clear indication that more people are taking part in extreme sports,” said Julian Hicks, director, Sportscover Direct, a specialist insurer for extreme sports with policies wholly underwritten in Lloyd’s.
Kite surfing and downhill mountain biking are two relatively new extreme sports, while those seeking the ultimate thrill can try out mountaineering and base jumping.
Base jumping, outlawed in many parts of the world due to jumpers leaping from buildings in city centres, is when one jumps off the side of a mountain or a building and freefalls for a while before opening a parachute, Lloyd’s writes.
“The key thing that we would assess any sport on is the potential for the participant to hit the ground or any other person at speed,” Hucks said. “It means that there are sports that are not covered and new sports would be difficult to insure until underwriters have enough data to fully assess the risks.”
Travel firms are not making it clear that certain things are not covered such as parascending or jet skiing while others risks are underwritten only on conditions, such as being undertaken only in conjunction with the participation of a qualified guide, Hicks says. Nevertheless, Lloyd’s observes, travellers continue to participate in these risks.


Print this page Share

Have your say:

Your email address will not be published. Required fields are marked *

*