SpeedAgent1

Please circulate this information to other car forums and friends that you know either have this coverage or are planning to purchase it.

<<<PLEASE READ THE ENTIRE MESSAGE>>>

On Wednesday August 8, 2007 the HPDE insurance program accessed through SIU in Atlanta and underwritten by Great Lakes Re was officially put on hold. This was directed by SIU. No resurection date was given. This move was prompted by recent claims and losses from "another company" offering this same product. Both myself and that company can not quote and bind under the Great Lakes policy. I am not able to comment on the reasons why either SIU or Great Lakes suspended the program, but I have my suspicions.

I would not be a good business person or a responsible insurance agent if I had not prepared for such an event. Starting TODAY August 9, 2007 this program is now underwritten through Hiscox, a Lloyds company. Hiscox is A- rated (Excellent) by AM Best and they have the experience in motorsports that is needed to take this program where it needs to go. Hiscox insures some of the most experienced teams in Forumla 1 and DTM. I have been working with Hiscox for over two years regarding pro-racing insurance and they have never once given me a reason that a valid claim would not be covered, even claims in excess of $150k.

I understand that this situation is not comforting to everyone, especially those that have sent me applications in the last couple of days. I will be calling each of you individually to see how you would like to proceed. Please understand that this was not something I knew was happening until just last evening. I have, however, taken the proper steps to ensure that the bumps in the road are minimal and that each person wishing to insure can do so with a reputable and financially sound company.

I know you all will have many questions. I have cancelled my scheduled trip to Watkins Glen today and I am dedicating my entire day to answering questions on this board under this thread. Again, please direct any negative questions to my email or call me directly. I apologize for the inconvenience this will cause some people. Just know I am doing the best that I can.

Sincerely,

Chris Maume
President
ProSure-Motorsports Protection
www.prosure.net
678.643.8415

SpeedAgent1

*This "on hold" situation only applies to applicants and not to current policy holders. All current policies will be in effect until the expiration date on your specific policy.

I'm sorry I did not specify that from the beginning.

Regards,

Chris

Gary R.

Chris - Can you use my current application to quote me with Hiscox? Do they have the same restrictions on registered vehicles?

Thanks

SpeedAgent1

Gary,

We can use the same application and no, at this time there is no restriction on registered vehicles. I have sent in your application and I will let you know what the result is.

By the way, I sent you an email about 30 minutes ago...did you get that?

Chris

TR6

Is there a change in the rate structure with the new company?

SpeedAgent1

I'm working with Hiscox on that right now, hopefully not. In fact, we hope to have multiple dedutible options that will make a significant difference on the premium.

Regards,

Chris

Bull

It sounds like improvements (IMO) may come from this "bump in the road".

SpeedAgent1

That is what I am working toward.

Chris

paradisenb

Is this coverage a one time opportunity, i.e. if one files a claim are they automatically droped at renewal? Is there info sharing among DE ins. companies regarding claims like street ins.?

Gary R.

Sure does Bull. For me, looking to insure an unregistered car AND looking for a high deductible (to help with the fact I need to insure 2 cars) it could be a very good development!

230ERACER

Chris are you going to be able to offer something like Laurel does in that we can buy 30 days DE/PCA Club racing insurance and it will cover us on both? Or just DE?

SpeedAgent1

Althought I can't compare myself or my program in any way to Laurel DE, or any other non-insurance product, I can say that I am working to provide rates for club racing that are fair and flexible as the DE rates have been.

Stay tuned as things are changing for the good very quickly.

Regards,

Chris
www.prosure.net

Bull

Exactly! The PO of my car had it street registered for the 14 years he owned it from new....even in full race trim from Andial. I haven't registered it due to the cost and hassels, but have driven it on the street on my Dealer plates. It really isn't fun to drive on the street, so I doubt I will ever register it. I wouls also like to see deductible choices for lower rates, and multiple car possibilities.

DrJupeman

I'd like to see reasonable club race coverage! Let me know when you've figured that out.

RSRRacer

To coin a phrase, "Exactly what about Porsche Racing did you think was inexpsive, the Porsche part or the Racing part?" Cant recall who said it, but it sure fits.

That being said, you are doing a great service to those of us who like to insure our on-track risk.