COLORADO SPRINGS, Colo. (Feb. 3, 2003) - USA Triathlon sanctioned events will have increased liability insurance this year, thanks to a new insurance company and policy, the organization announced Thursday. The new contract with the Clarendon insurance group, facilitated by USA Triathlon's insurance broker, ESIX, will increase the base amount of liability insurance to each sanctioned event from $1 million to $5 million.

The new policy helps race directors because many cities have started requiring a base coverage higher than $1 million. In the past, race directors in these cities had to purchase more insurance incrementally, which could be very expensive. "Due to the boost in annual and one-day fees, we felt it was imperative to provide a boost in services to race directors," said USA Triathlon Executive Director Steve Locke.

Anticipating higher insurance costs, USA Triathlon increased the price of an annual membership to $30 and the price of a one-day license to $9 on Jan. 1, 2003. The next step for USA Triathlon is a new risk management program to keep insurance costs manageable. "For race directors, the price of increased insurance will be an increased focus on the safety of their races," Locke said. "The race directors need to help us protect the athletes and, in turn, protect our insurance policy."