Guest Blog: Virtual Race Insurance Program Through Strategic Risk

This guest post includes a press release from our Marketplace Partner, Strategic Risk Transfers. For additional information, see below the release.

Worcester, MA – Strategic Risk Transfers (SRT) today announced the debut of their virtual race liability insurance program.

“As COVID physical distancing restrictions began to force races to convert to virtual format, race directors were rightfully concerned with their liability exposures” said Scott Sutter, the President of SRT. “The industry was looking to us for a dependable solution… so we created one!”

First, SRT had to solve a problem. Customary event liability policies were too laser-focused. They are designed to insure a race that would take place in a certain location, for a certain period of time. This rigidity does not jive with the virtual race format – since participants could be anywhere, at any time. SRT had to create flexibility, while maintaining a structure that an underwriter could bite into.

In order to create the required balance of metric and flexibility, SRT called on RunSignUp and their RaceJoy smartphone app.

RunSignUp is the market leading online race registration provider in the virtual-race space. Their platform offers the flexibility the race director needs to effectively manage a virtual race.

RaceJoy provides the metric. With RaceJoy, the race director knows who is participating, and when and where they did. Through this data, an underwriter is able to exact the risk and provide pricing. Long term access to this data also puts the race director in a more defensible position – all while adding to the race experience for the participant.

With these mechanics in place, Tokio Marine-Houston Casualty Company – a well-known insurer of the endurance sport industry – was ready to provide the insurance backstop and claims support.

Q&A for Virtual Races Seeking Insurance

What are the requirements this insurance?

To ensure that the parameters of the event are known, the race must use RunSignup registration and it is mandatory for the runners must use the RaceJoy app.

How do I offer RaceJoy to comply with this policy?

RaceJoy is offered through Certified Timers. You can use our Timer Search to find a timer that is RaceJoy Certified:

If runners are using RaceJoy, does that mean they all have to run the same course?

No! With RaceJoy Anywhere, your Certified Timer can use RaceJoy to monitor your runners regardless of where they run.

How do I get more information about this insurance option?

You can contact Scott Sutter from Strategic Risk Transfers at, or via the contact form here.

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