Policy for 2023 racing will cost £930,000
Insurance for the Island's road racing events has increased by 18% for the 2023 season.
Enterprise Minister Tim Johnston confirmed the policy will cost £930,000 this year, compared to £790,000 for the 2022 races.
It comes after all events in Northern Ireland were recently cancelled due to the rising cost of insurance.
Mr Johnston admits the increased expense is something that will continue to be an issue in the years ahead:
Repeated power outages in Santon under investigation
Engineers are struggling to pin-point the fault due to a rare fault
Tribunal on pay dispute against Crogga continues
Founding member Diccen Sargent claims he had an unlawful deduction of pay
Manx Utilities reports £717k loss for 23-24 financial year
Authority's finances improve according to latest annual report
Free TV licences for over 75s extended for two years
Dr Allinson says the decision to extend the concession will provide certainty for people
Trial for fisherman accused of catching shellfish without 'valid pot tags'
52-year-old denies two offences