As some of you may be aware we were unable to retain our initial insurance carrier (they backed out).As a result, over the last two weeks every attempt has been made by numerous insurance agents working with insurance groups to obtain another carrier.
Every motorsport insurance company was contacted and rejected our event, except one. Their premium was quoted July 27 at 8 times the initial carriers rate.
We would have to charge $75 per entry just to cover costs. Although this type of race may have been done somewhere at some time, it probably was not properly insured.
To be clear, this is event liability insurance (drivers sign waivers to participate and are not insured, as in all racing). The city of North Platte worked with us in every way to make this event happen, and is still on board with us for a future event, unfortunately due to lack of affordable event insurance the event is now postponed indefinitely.
Please note this street will not be blocked off or closed on Sunday, Aug. 6, since the event is canceled.
All money donated to support the event will be returned immediately. Everyone who called in a pre-registration will be called and notified.
No one is more disappointed than I am. Thanks to everyone for your support and hard work - it is greatly appreciated.
-- Organizer Rich Hulse via facebook