Lockton Insurance Brokers Partners With The NTRA To Lower Racetracks' Total Cost Of Risk And Offer Discounts
NEW YORK, May 15, 2014 /PRNewswire/ -- The National Thoroughbred Racing Association (NTRA) today announced that Lockton, the world's largest privately held insurance broker, has entered into a three-year exclusive agreement with the NTRA to lower racetracks' total cost of risk while offering discounts to tracks accredited by the Safety and Integrity Alliance. The partnership will offer racetracks a wide range of creative and cost effective risk management solutions through Lockton's Gaming, Entertainment & Sports Practice.
"Lockton's partnership with the NTRA is a game changer for the horse racing industry with respect to risk management," said Jared Mitilier, Lockton's Gaming, Entertainment, and Sports Practice Leader. "Our deep understanding of the evolving risks faced by racetrack owners coupled with our ability to deliver uniquely crafted product solutions for the industry will lead to significantly lower total costs of risk."
Lockton will offer tailored insurance products to racetracks and racinos, including: property and casualty, workers' compensation, promotion and events, jockey accident, group medical, dental, vision, life and accidental death and dismemberment, as well as voluntary benefits products. Additional services include policy analysis, loss control and safety, and claims advocacy.
"We are delighted to welcome Lockton into a partnership that will make a positive impact on the sport," said Mike Ziegler, Executive Director of the NTRA Safety and Integrity Alliance. "This deal allows us to reward the tracks that do the right thing by implementing best practices in areas that impact equine safety and operational integrity."
The NTRA Safety and Integrity Alliance is a standing organization whose purpose is to establish standards and practices to promote safety and integrity in horse racing and to secure their implementation. Corporate partners of the Alliance include Lockton and Hagyard Equine Medical Institute. Information on the Alliance, including the Alliance Code of Standards, can be found at www.NTRAalliance.com.
About Lockton
More than 5,000 professionals at Lockton provide 35,000 clients around the world with risk management, insurance and employee benefits consulting services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world. Independent researcher Greenwich Associates has awarded Lockton its Service Excellence Award for risk management for large companies. For five consecutive years, Business Insurance has recognized Lockton as a "Best Place to Work in Insurance."
About the NTRA
The NTRA is a broad-based coalition of more than 80 horse racing interests consisting of leading Thoroughbred racetracks, owners, breeders, trainers, horseplayers and affiliated horse racing associations, charged with increasing the popularity of horse racing and improving economic conditions for industry participants. The NTRA has offices in Lexington, Ky., and New York City. NTRA press releases appear on NTRA.com, Twitter (@ntra) and Facebook (facebook.com/1NTRA).
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SOURCE Lockton
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