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Allianz launches North America motorsports unit

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Allianz Global Corporate & Specialty S.E., Allianz S.E.’s corporate and specialty insurance unit, on Wednesday said it has launched a North American motorsports division under its AGCS entertainment umbrella with Alive Risk as its managing general agent.

The new division will provide coverage for racing facilities, events, teams, sponsors and sanctioning bodies, and AGCS plans to begin the launch of the division in the U.S. and then eventually expand to Canada and Europe, AGCS said in a statement.

David Cloward, Allianz Global Corporate & Specialty’s global product leader for live entertainment, will serve as head of the motorsports unit. “Motorsports is among the most popular and fastest-growing spectator sports in the United States, and we are pleased to be adding this product to our entertainment portfolio, with an eye toward other regions in the near future,” Lauren Bailey, global head of entertainment at AGCS, said in the statement.