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Lockton Cos. L.L.C. has entered into a three-year exclusive agreement with the National Thoroughbred Racing Association to lower racetracks’ total cost of risk while offering discounts to tracks accredited by the association’s Safety and Integrity Alliance.
The partnership will offer racetracks a range of risk management solutions through Lockton’s gaming, entertainment and sports practice, the Kansas City, Missouri-based broker said Thursday in a statement.
Lockton will offer coverage including property/casualty, workers compensation, promotion and events, jockey accident, group medical, dental, vision, life, accidental death and dismemberment, and voluntary benefits products to racetracks and racinos, according to the statement.
Policy analysis, loss control and safety, and claims advocacy services are also available, the insurer said.
“Lockton’s partnership with the NTRA is a game changer for the horse racing industry with respect to risk management,” Jared Mitilier, Lockton’s gaming, entertainment and sports practice leader, said in the statement. “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.”
“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,” Mike Ziegler, executive director of the NTRA Safety and Integrity Alliance, said in the statement.