News & Press Releases
Allianz Moves Full Speed Ahead With Motorsports Launch in North America
Press Release. New York & Los Angeles, Dec.2, 2015.
Building on its established presence in both film and TV productions as well as live events, Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty® (AGCS), announced today that it 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 solutions 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 employs top experts in underwriting, risk management and claims with detailed knowledge of racing facilities, events and teams. Alive Risk is a division of All Risks, Ltd., the largest independently held broker in the U.S.
“Motorsports is among the most popular and fastest growing spectator sports in the United States, and we are pleased to be adding this product to our entertainment portfolio, with an eye toward other regions in the near future,” stated Lauren Bailey, Global Head of Entertainment at AGCS. “As we have insured countless productions and top-grossing entertainment and sporting events, this expansion makes perfect sense, given our history and expertise in the industry.”
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. For decades, FFIC’s entertainment business has enjoyed a strong reputation as a market leader in North America and is now supported by AGCS’s extensive global network, technical expertise and comprehensive product portfolio.
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.
“We are thrilled to be partnering with Allianz on this dynamic new chapter, expanding on their renowned industry reputation, reach and expertise,” stated Jerid Schmickle, Managing Director at Alive Risk. “Our experienced team, led by Tim Troester, has a passion for competition which drives us to deliver world-class products for motorsports teams, tracks and facilities.”
Sabrina J. Glavan
Allianz Global Corporate & Specialty
Harden Communications Partners