Specialist Risk Group (SRG) has reached an agreement to acquire motorsport insurance specialist James Hirst and his team from James Hallam Ltd, part of Seventeen Group.
The move marks a further step in SRG's strategy to grow its presence in sports and entertainment.
Hirst brings extensive experience in on-track accident damage, liability, personal accident, event cancellation and other complex risks unique to the sport. His team has advised clients at every level of the industry -- from grassroots competitiors to professional racing teams and international governing bodies.
By joining SRG, Hirst and his team will expand the group's specialist motorsport offering at a time when the sector is facing mounting challenges around claims costs and regulatory demands.
Joining a complex class of coverage
Motorsport insurance is a complex class, shaped by the high value of vehicles, exposure to on-track incidents, and the need for tailored liability cover. In recent years, brokers have reported rising premiums and tighter underwriting as insurers adapt to inflationary pressures and greater scrutiny of risk management practices across motorsport venues and events.
Industry analysts noted that specialist brokers play a criticial role in helping motorsport stakeholders secure adequate cover. Standard commercial policies are often insufficient for the risks associated with racing, leaving teams and organisers reliant on tailored programmes that combine accident, liability and cancellation protections. The growing popularity of grassroots racing and track-day events has also broadened the market, but with it comes the challenge of educating less experienced entrants on the importance of specialist insurance.
Lee Anderson, group deputy CEO of SRG, said Hirst and his team's arrival strengthens SRG's position as a leader in the motorsport market. He noted that their expertise and client-first approach align with SRG's broader ambition to build a respected entertainment and sport practices in the insurance sector.
In separate news, last month, SRG announced its intention to acquire City Quarter Brokers, which caters to the construction, engineering and infrastructure sectors.
