HORSE Racing Ireland is keeping a close eye on the escalating insurance problem which is threatening the viability of point-to-points.

Insurance underwriters are less willing to cover equestrian activity and a number of hunts are struggling to renew their insurance policies, which covers both hunting and point-to-points. Two fixtures originally scheduled for this weekend were cancelled due to lack of insurance and it is believed a large number of hunts with fixtures scheduled for the spring are relying on a breakthrough in the coming weeks.

HRI’s interim chief executive Suzanne Eade says she has been in contact with Paul Murtagh, Registrar of the Irish Horseracing Regulatory Board, about the issue.

She said: “Earlier this year HRI helped out by staging point-to-point bumpers at Fairyhouse, Tipperary and Cork. However, I understand this would not be a long-term solution as the racecourses could only take a limited number of races and the insurance issue would hit us as well.

“There is a fair bit to be sorted out yet, but I can confirm that the problem of insurance provision has not yet spread to racecourses. The Curragh renewed its insurance just last week with no major problems and I am not aware of any other racecourse having difficulty.”

Conor O’Neill, chairman of the Association of Irish Racecourses and CEO of Punchestown, said: “Punchestown has cover until the spring, so I am watching to see how it plays out for the moment. Having said that, I know there are only a couple of players in the market and one of them may be pulling out of insuring the equine sector.”

A senior insurance broker, who has vast experience in the racing world, told The Irish Field: “There continues to be a lot of activity behind the scenes in trying to get an underwriter for the point-to-points.

“Things should become clearer in the next month. I think it will get resolved, it’s just a question of the timing and it may be close run thing for some hunts whose insurance is about to expire or already has expired.

“I don’t think it is realistic to expect HRI, the IHRB or any state body to step in. They do not have an insurable interest. It would be like asking the taxi regulator to insure taxi drivers.

“What has happened here is that most point-to-points are run by hunt clubs and the insurance was an extension of their hunting policy. There have been some large claims associated with hunting and that has impacted on the point-to-points.

“The plan was to extract the point-to-points and insure those separately but the deal fell through last month. Racecourses and training yards are okay for insurance, but point-to-points are seen as riskier.”

The matter was raised in the Dáil this week by Tipperary TD Jackie Cahill. He said: “There is a serious issue where no insurance company is quoting a price for recreational activities like water parks, hunting and point-to-points.”