Originally Posted by Toomm
Thanks Phillip for your reply. It is very helpful to read your experiences first hand.
I am curious if you know what level of insurance your event had? ie. Did your event get insurance through the permitting agency as you suggested?
Sorry for any confusion. Permitting agencies often require your to have liability insurance above a specified minimum from a third party insurance company. Not sure what ours was for the big expedition but I am assuming it was huge considering the quality and quantity of accidents the event experienced (common for the larger expedition adventure races). I know the amount required and liability for such a major race is often enough to push them out of the states. There is a reason most are overseas now. You won't experience the level of risk management we had, like an ESPN helicopter that safely crash landed after its tail rotor clipped the scree on the Castleton ridgeline or a racer who was life-flighted and was a heat induced coma for multiple days. We had ten days of racing with just about every adventure sport imaginable. Different beast completely as ours was a major event on a world circuit with a $500k prize for the winners alone.
I am assuming yours will be a one day affair and would not be as significant. That said, it will likely be a large portion of your budget. Though your registration fee should absorb it. Everyone's insurance in the outdoor industry sky rocketed post-9/11 though I hear the premiums have stabilized.
Your costs will be individual based on a variety of parameters from minimum age of participants (over 18 mandatory helps reduce cost), mandatory equipment, objective hazards (though they will likely just group in a category similar to a commercial rafting company), type of human resource strategy (independent contractor versus employee versus volunteer), number of participants, type and # of drivers, etc. But I would expect your coverage to be easily $100k or above. Not sure what that translates to for actual out of pocket premiums.
Any quality insurance agency is going to want to see a detailed risk management plan which takes time and expert advice. They will want to know everything from certifications within your crew to estimated emergency response times for participant injuries. My guess is if you are running a professional, official race you will want to designate an experienced staff member to this job alone. They may be able to bring a previously used template with them that reduces the amount of legwork you have to do. This person should then be your johnny on the spot emergency response coordinator during the event. One always hopes its a boring day for them but things happen.
The other option is discipline specific insurance that can be quite thorough and affordable. Many professional associations will insure events if you are a member. Not sure what would be best for your situation but if you look here its a relatively low cost based on # of participants. In this case its $4 plus a few fees.
Hopefully others will chime in with specific advice as mine is fairly generic. Know that I am a fairly conservative person/professional when it comes to risk management but case studies show that to be a prudent approach. Others mileage may vary.
The race can be done but it will be a labor of love. Let us know how it goes.