CART and K&K renew relationship; K&K retains status as "official corporate & special risk insurance company of CART" DETROIT (March 21, 2002) - Officials from Championship Auto Racing Teams, Inc. (CART) and K&K Insurance Group announced today...
CART and K&K renew relationship; K&K retains status as "official corporate & special risk insurance company of CART"
DETROIT (March 21, 2002) - Officials from Championship Auto Racing Teams, Inc. (CART) and K&K Insurance Group announced today that K&K has renewed its business relationship with CART, and has retained its status as "Official Corporate & Special Risk Insurance Company of CART."
"We are delighted to welcome K&K Insurance back for another season with CART," said CART Vice President of Marketing, Steve Fusek. "For many years they have provided CART and its teams with a great deal of security, and it's great to have them here to manage risk. Clearly, they have seen real value in aligning themselves with us, and everybody in CART will continue to work hard and deliver even more value to K&K in 2002 and for years to come."
K&K is celebrating its 50th year of operation in 2002, and has had a relationship with CART since the sanctioning body's inception in the late 1970s. The company provides CART and many of its teams and sponsors peace of mind with regard to insurance coverage, which includes excess liability, owners' and sponsors' liability, participant accident and catastrophic medical coverage, property and casualty, and workers' compensation.
"K&K is extremely pleased to renew our long standing relationship with CART and continue to manage their insurance needs," said K&K Vice President of Motorsports, Dave Hatlem. "CART's international reach as a global sports property is a natural fit for K&K, as we are a multi-national company with offices in Australia, the United Kingdom, and Canada. Additionally, CART's leadership in motorsports safety and medical services provides a great platform for K&K to promote our risk management services within the motorsports industry."
In addition to its designation as "Official Corporate & Special Risk Insurance Company of CART," K&K has been a major sponsor of the Simple Green CART Safety Team since 1989. K&K has also been a sponsor of the CART Medical Center-a state-of-the-art mobile medical facility that services the on-site medical needs of CART drivers, trackside staff, and series officials-since its introduction in 1996.
K&K Insurance Group was founded in 1952 by Nord Krauskopf, primarily to place insurance coverage for auto racing. Krauskopf - himself an avid motorsports participant - knew there was no viable source of insurance for auto racing, and moved quickly to fill the need by placing motorsports insurance coverage. 50 years later, K&K brings the same entrepreneurial spirit for the industry to each of its clients. Providing coverages for all types of racing, K&K is the leader in North American motorsports insurance. K&K offers over 100 specialty programs, and is called upon to provide insurance coverage for more than 300,000 sport, leisure, and entertainment events, leagues, associations, and business organizations across the United States and Canada. The company is headquartered in Fort Wayne, Ind.
Championship Auto Racing Teams, Inc. (NYSE: MPH) owns, operates and markets the CART FedEx Championship Series. Former series champions Michael Andretti and Jimmy Vasser are among the stars who will battle for the 2002 FedEx Championship Series title on ovals, temporary street circuits and permanent road courses. CART Champ Cars are thoroughbred racing machines that travel at speeds in excess of 200 miles per hour, showcasing the technical expertise of manufacturers such as American Honda, Ford Motor Company, Toyota, Lola Cars, Reynard Motorsport, and Bridgestone/Firestone North American Tire, LLC. The 20-race 2002 CART FedEx Championship Series will be broadcast by new television partners, CBS, FOX, and SPEED Channel. CART also owns and operates its top development series, the CART Toyota Atlantic Championship. Learn more about CART's open-wheel racing series at www.CART.com.