Local News in Brief : Long Beach : Grand Prix Insurance Cut
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For the third year in a row, Long Beach Grand Prix promoters got a break from City Hall when officials agreed this week to lower a $20-million liability insurance requirement. Without discussion, the City Council voted to cut $5 million from the requirement.
Grand Prix Assn. promoters said they could only secure $15 million in coverage for the event that will feature Indy-type cars racing through downtown April 15 to 17. In the previous two years, the council slashed in half the required insurance to $10 million.
Last year, Grand Prix officials made their request to the city a week before the race--prompting council members to warn the promoters that the next time, they would like an earlier warning.
The association’s contract holds the city and its officers harmless in the event of accidents, and there has not been a claim involving Long Beach during the past 13 years, according to City Manager James Hankla.
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