£10m Public Liability Insurance limit recommended to Racehorse Trainers

The National Trainers Federation (NTF) has recently advised all Racehorse Trainers to ensure that their Public Liability Insurance has a limit of £10million, commensurate with the Employers’ Liability limit.

The current requirement from the British Horseracing Authority (BHA) is that Trainers must carry a minimum limit of indemnity for Public Liability of £5million, however this is now deemed to be far too low when the costs of defending a claim and the increasing size of the awards given after the claim is settled are taken into consideration.

The Public Liability policy that Lycetts recommends to Trainers has had a mandatory limit of £10million since September 2017.

Anna Goodley, Divisional Director “We understand that Trainers are operating in a high-risk environment and we were concerned about the rise in levels of potential exposure a few years ago. That is why since 2017 we introduced a fixed limit of £10million on our Public Liability policies, giving Trainers peace of mind that they are covered for all eventualities. We are pleased that the NTF have issued this advice to Trainers and encourage Trainers to review their existing policies in light of this”.