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Thursday, May 3

Thursday, May 3 2007

Racing Risk Management

With a speed theme that reflected the fast-paced conference, RIMS 2007 came to a close with Thursday's Keynote Speaker Luncheon featuring David Holcombe, director of risk management for International Speedway Corp. (NASCAR).

Risk is an obvious presence on the 200-mile-per-hour speedways, but the challenges range beyond the growling engines burning up the track. The International Speedway Corporation promotes more than 100 racing events annually and owns and operates eleven of the nation's major motorsports entertainment facilities.

Holcombe has to deal with the effect of weather conditions on profits, general liability for injuries, fiduciary liability and employee coverage. He has also had to deal with incidents such as the tragic racing accident that took the life of stock car racing legend Dale Earnhardt.

Using video clips, he showed the evolution of the race car as well as some of the worst accidents in racing history. He then detailed the innovations in safety technology and the more stringent requirements enacted in order to minimize safety risks for drivers.

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