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Powerboat Racing World

Frode Sundsdal

What is prw.

It’s a powerboat racing website that has covered circuit racing, offshore racing and PWC since 2016. Maintained by The Race Factory based in Norway who have specialists in event planning and promotion, social media, graphic design, and photography. We are currently working on our vision and believe that we can and will make a different in powerboating. We will dedicate our time to produce accurate factual stories and to promote the sport to a wider global audience.

Leading insurance company unveils plans for 2023 powerboat racing season in partnership with P1 Offshore and Class 1

International marine motorsport promoter Powerboat P1 and leading insurance broker XINSURANCE have jointly announced plans for the second year of their three-year partnership. Established more than 40 years ago in Sandy, Utah and regarded as an industry innovator offering customized speciality liability insurance for businesses and individuals, XINSURANCE is an Official Partner of Powerboat P1 and UIM Class 1 offshore racing.

An exciting element of the sponsorship is that Powerboat P1 is able to use the primary seat in the A-Star XINSURANCE helicopter, designated the Official Broadcast Helicopter, for filming and live streaming at offshore races across the 2023 season. The two partners will cross-promote on all social and digital platforms, and the sponsorship provides XINSURANCE with significant branding and activation opportunities at race events together with significant exposure through Bally Sports and CBS Sports Network television broadcasts.

The XINSURANCE name is familiar to powerboat racing fans with the company’s name featuring prominently on the side of the 48-foot MTI purpose-built Class 1 boat raced by Alex Pratt and Miles Jennings that also carries the Good Boy Vodka brand name. In March this year, XINSURANCE expanded its company-sponsored offshore racing fleet by announcing that it will be backing the Turk Family Racing team’s two bracket class boats, and last month it unveiled a long-term title sponsorship of the Great Lakes Grand Prix in Michigan City.

XINSURANCE adopts a partnership approach to both its business and sponsorship strategy, and has provided coverage for a diverse range of sports, activities, events and athletes. It focuses on providing solutions for speciality risks and the partnership with Powerboat delivers a platform for showcasing its commitment to motorsports events. Rick J. Lindsey, President and CEO of XINSURANCE commented:

“This is an exciting time for us to provide support to help build, showcase and highlight the excitement of P1 Offshore racing that includes the UIM Class 1 World Championship, the pinnacle of the sport. We are looking forward to again working with the P1 team and coordinators around the country who organize and promote these exhilarating events. We are enjoying our successful relationship with Powerboat P1 in a growing market.”

Powerboat P1 CEO Azam Rangoonwala said:

“Strategic partnerships play an important role in our business and we will continue to work closely with the XINSURANCE team to help them meet their business objectives. Rick’s passion for, and understanding of, marine motorsports shines through in everything his company does and the XINSURANCE helicopter certainly makes this a high flying sponsorship.”

The countdown is underway to next week’s opening Powerboat P1 race event of the season (May 18-21) at Cocoa Beach on Florida’s Space Coast.

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© 2024 Powerboat Racing World.

June 24, 2022

International marine motorsport promoter Powerboat P1 has announced a three-year sponsorship agreement with leading insurance broker XINSURANCE. Established some 40 years ago in Sandy, UT, and regarded as an industry innovator offering customized specialty liability insurance for businesses and individuals, XINSURANCE will be an official partner of Powerboat P1.

The XINSURANCE name is already familiar to powerboat racing fans with the company being the principal sponsor of 345 Racing, a new Florida-based team competing in the UIM Class 1 World Championship, the pinnacle of offshore racing. The company adopts a partnership approach to both its business and sponsorship strategy, and has provided coverage for a diverse range of sports, activities and events including high-powered watercraft, dirt bike racing, helicopter skiing, parasailing, recreational venues, special events such as concerts and pyrotechnics as well as individual athletes. It focuses on providing solutions for specialty risks and the new partnership with Powerboat P1 provides a platform for showcasing its commitment to motorsports events.

An exciting element of the sponsorship will be for Powerboat P1 to use a seat in the A-Star XINSURANCE helicopter, to be designated the Official Broadcast Helicopter, for a race commentator or photographer at the upcoming P1 OFFSHORE SARASOTA GRAND PRIX 2022 (July 1-3) and the P1 OFFSHORE ST. PETE GRAND PRIX 2022 in early September. Powerboat P1 and XINSURANCE will cross-promote on all social and digital platforms, and the sponsorship will provide XINSURANCE with significant branding opportunities at the race events.

“This is an exciting time for us to provide support in an effort to help build, showcase and highlight the excitement of P1 Offshore racing and marine motorsports,” said Rick J. Lindsey , President and CEO of XINSURANCE. “We look forward to working with the team and coordinators nationwide who work diligently to organize and promote these exciting events. XINSURANCE has a history of sponsoring spectator events, athletes and professionals, and we now look forward to a successful relationship with Powerboat P1 in a growing market.”

Powerboat P1 CEO Azam Rangoonwala added, “Strategic partnerships play an important role in our business and we are looking forward to welcoming the XINSURANCE team and their helicopter to our two P1 Offshore events in Florida. We will be working closely with them to meet their business objectives.”

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Legendary throttleman giovanni carpitella joins montlick injury attorneys offshore race team, ron duggan retires from loto shootout organization, mayor welcomes back sheboygan midwest challenge, offshore racer stancombe converts pepper's hull with outboards for factory stock class.

Mark Posted on November 10 2023

In this episode, Mark Baratto sits down with XINSURANCE owner, Rick J. Lindsey.

We talk about sponsoring the Powerboat races, helicopter flying, and of course, insurance.

More on XINSURANCE

As he progressed on his career path, Rick J. Lindsey discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims.

Rick J. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick J. Lindsey to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business.

XINSURANCE also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are XINSURANCE can help.

Website:   https://www.xinsurance.com/ Instagram:   https://www.instagram.com/xinsurance/ Facebook:   https://www.facebook.com/Xinsurance LinkedIn:   https://www.linkedin.com/company/xinsurance YouTube:   https://www.youtube.com/user/xinsurancecom

If you need help, have questions, or want us to review your current policy, contact us or have your insurance agent contact us at   877-585-2853   or   [email protected] .

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Powerboat P1 is the fastest growing marine motorsport series in the world and has a long term commitment to growing and developing the sport of power boating at all levels. The Powerboat P1 team works closely with the sport’s governing bodies, the UIM, APBA and the IJSBA. P1 has delivered more than 85 world championship events in over twelve different countries for more than a decade.

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Alex pratt creates new uim class 1 team, new xinsurance good boy vodka racing team joins uim class 1 world championship.

• Alex Pratt and Miles Jennings continue partnership in MTI catamaran
• Good Boy Vodka and XINSURANCE join forces as co-sponsors
• New team to debut at the Great Lakes Grand Prix on Lake Michigan next month

Rick J. Lindsey and his team at XINSURANCE provide solutions for almost every industry across the board and they truly think outside the box for their customers. Alex Pratt XINSURANCE Good Boy Vodka Racing Racing Team

Powerboat P1, the exclusive international rights holder to the UIM Class 1 World Championship, has announced that Alex Pratt is launching a new Class 1 race team ahead of the next event in Michigan City on 7 August. Throttleman Pratt competed alongside driver Miles Jennings for Cayman Islands-owned 345 Racing in the opening two rounds of the championship in Cocoa Beach and Sarasota, and he has now acquired a 45-foot 2019 MTI catamaran from the Performance Boat Centre to race in the remaining four events this season.

Pratt will continue his relationships with Jennings and principal sponsor XINSURANCE, with his own Good Boy Vodka brand becoming joint team sponsor to create XINSURANCE Good Boy Vodka Racing. The new team will be based out of southwest Michigan and Naples on Florida’s Gulf Coast and will race with twin Mercury Racing 1100 Competition engines. 345 Racing’s Victory hull boat is undergoing repairs to damage caused during pole position qualifying in Sarasota earlier this month.

27-year-old Pratt, who splits his time between his hometown of Clearwater on the Gulf of Mexico and southwest Michigan, founded Good Boy, a premium, lifestyle vodka, in 2020 and positioned it to support animal charities and Veterans. The co-sponsor will be XINSURANCE, a business established some 40 years ago that provides customized speciality insurance for ever-changing risks and issues such as speciality liability, property and casualty insurance. “Rick J. Lindsey and his team at XINSURANCE provide solutions for almost every industry across the board and they truly think outside the box for their customers,” explained Pratt.

Pratt has been involved with motorsports for many years, initially racing motorcycles before moving into performance boating. “Good Boy Vodka and XINSURANCE have expanded our partnership into offshore powerboat racing where the aim is to provide a unique racing experience at each Class 1 event and attract more young people,” said Pratt. “Class 1 is the summit of the sport with the best boats, best drivers and the best equipment in the world, and Powerboat P1’s international TV broadcast deals and live streaming take the racing into fans’ homes worldwide.”

The 2022 UIM Class 1 World Championship features eight races at six venues in the United States from May to November. “The pairing of Alex and Miles is an exciting combination, with the youngest racer in the championship alongside a driver who started his powerboat career in the 1970s and has racing in his blood,” commented P1 CEO Azam Rangoonwala. “Miles’ titles include 5-times world champion and 12-times British champion, and Alex is determined that XINSURANCE Good Boy Vodka Racing Racing will make its mark across the rest of the season.”

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Rick Lindsey is Racing into the Waters of Key West

The president, CEO and chairman of Prime Insurance Company is looking to Race World Offshore Key West Championships for one of his next crowd-drawing ventures. Rick J. Lindsey has been on the water since his adolescence in Utah’s Salt Lake Valley. Those races are set for Nov. 6-13.

While his penchant for sports saw him to the last round of cuts for the United States’ national ice hockey team for the 1980 Winter Olympics, it would be his attention to emerging demands in the insurance industry that put Prime on the map. After settling on a place in Summerland Key, Rick, as he prefers, is teaming up once again with Powerboat P1/P1 Offshore for the annual week of racing with his XINSURANCE.

Do you remember the first time you saw a boat you really wanted to drive or own?

Rick : Lake Powell, Utah. Cruiser yacht. Twelve years old. Bullfrog Marina. We had a small ski boat tri-hull. I learned to waterski behind. My dad’s friend Roy had a nice 52-foot cruiser. It was nice.

What made it so nice? The freedom? The aspiration? Fun?

Rick : All of the above, including very comfortable — it had air and heat. Lake Powell has hot days, cool nights.

Were lakes or beaches more accessible as an adolescent?

Rick : Now I visit beaches and lakes all over the country. As a youngster, it was local small cold mountain lakes and Lake Powell and skiing in winters.

Did you pursue early jobs that facilitated access to the water in some way?

Rick : I was always thinking up ways to make money! Started an egg route to ladies around my house, worked at the local rental store, was a dishwasher, sold Amway and Kirby vacuums. Was big into football from the age of 6 and played quarterback until I graduated high school. Started playing my favorite, hockey, at 19. I was invited to try out for the Olympic hockey team in 1979 and was cut. They went on to beat the Russians — Miracle on Ice. Then I started my insurance in 1981.

Was there a specific type of insurance that seemed more attractive?

Rick : Specialty insurance of all kinds like Lloyd’s of London, property and casualty liability, death, and disgrace. Special events like the most recent Rolling Stones USA Tour during COVID, even Lloyd’s declined, but I wrote it!

How did you connect with The Rolling Stones team?

Rick : In 1994, I started issuing Lloyd’s coverage nationwide. As a Lloyd’s cover holder, l would issue A-rated Lloyd’s paper, because I had taken over Prime in Illinois and it was in financial trouble. It was C-rated. AM Best rates insurance companies and Lloyd’s and their syndicates.

I issued Lloyd’s paper for over 20 years, but as I became A-rated, I experienced them getting involved in claims and hurting my insureds and my profitability. So, I only issue my own paper now: Prime Insurance Company.

The Rolling Stones went to Lloyd’s and a broker referred them to me when Lloyd’s declined to issue due to prior claims, age of artist and COVID.

One of the requirements is that me or one of my named underwriters must speak with each insured. I spoke with Mick, Keith and Ronnie before issuing a quote and coverage via Zoom.

What put specialty insurance on your radar? Is it considered particularly niche compared to life insurance and standard property?

Rick : Need. Providing solutions. 1985 was an insurance crisis. News headlines highlighted businesses that couldn’t get liability insurance and were unable to operate: helicopter ski guides, rafting in the Grand Canyon and West Virginia, hunting, horseback riding, skating rinks. I was able to provide liability insurance and have grown from $2 million in premiums per year to half a billion last year! Now we help trucking companies, recreation, pizza delivery, contractors, all targets of the plaintiff lawyers seen on TV. Most recently, we are writing homeowners nationwide including Florida, California, and wildfire areas.

Do you credit yourself with creating a new sub-market?

Rick : I provide solutions as the larger insurance companies run from trouble. I have always seen opportunities in business others run from. Forty years nationwide and Katrina was my first challenge with a CAT [deductible].

What makes Key West interesting this round? Were you a longtime visitor?

Rick:  Over my life of 61 years, maybe 10 times. Last year, good friends of mine from Naples, Jeff and Peggy, who rent a home for a month of fishing, mentioned it. I asked him if they would mind me renting a separate house and bringing down my 39 Yellowfin and all its history. Love the Keys!

Now you live here part time in Summerland?

Rick : I purchased a house and have demolished it and have plans to build a new home. For now, we rent homes a lot from Summerland to Key West.

What was the origin of XINSURANCE as it relates to Prime?

Rick : Evolution Insurance Brokers is my brokerage since 1994 and XINSURANCE is a DBA as was my idea to start introducing new products and create a brand that eventually people will identify as a specialty option instead of thinking of Lloyd’s of London.

Tell me about your entry into the boat races and week of events here last year.

Rick : I met Alex Pratt from a broker I know from Chicago now living in Naples — Tim Mahler with HUB International. First, I sponsored his Turbine Mystic two years ago and met the P1 Offshore organizing team and the other race team.

Alex and I attempted to sponsor a Cayman Island team the Red Victory XINSURANCE boat for the first two races of the P1 events. The boat broke both races so Alex and I formed a new partnership XINSURANCE Racing and Good Boy Racing. Teamed up with a new MTI for the last two races, first in Michigan City, Indiana — wild waves. We took third and broke the boat. Removed the engines, fixed the boat, and had the boat in the next Race in St. Pete. Where again, we took third.

These boats take a pounding, but they are made for it, repairable, and with a good team we should continue to improve. Keeping everyone safe is the first priority. Having fun with good people and playing the game to win.

Could you explain the economics of “boat week?” Why is it such a money maker?

Rick : Money maker for who? Key West? For me, I get to bring clients, agents, and brokers to a very unique event and provide them nice events and settings to do business and have fun, but it costs money to entertain claims.

Is there artistry to be found in the execution and presentation of these races?

Rick : Like all things, yes, doing anything against the best, challenging the competition is how everything evolves. I find it in my business, underwriting is evaluating people and risk. The courts and execution is critical to the individual and the industry, and homeowners. Making happy customers and doing what others say cannot be done is rewarding and builds lifelong partnerships. Art is just like writing or painting.

Are there areas of the arts you would like to be involved with more intensely?

Rick : The art of insurance is my focus and life and helping good people who struggle with the stupidity of some insurance. I don’t compete with stupid. True peace of mind!

Which one event during Race World Offshore are you looking forward to the most?

Rick : Flying my helicopter over the boat with the cameraman is the best! The concert is the new event we hope will be the cherry on top of a great week.

Do you ever wonder about how different your life may have been had you played hockey at the 1980 Winter Olympics?

Rick : That would have been really cool. However, I am very happy to have built a better insurance company outperforming the biggest and best that said it couldn’t be done. I help people and businesses when others would shut them down. I go to court and win frivolous litigation and have near 300 employees and their families that are part of my family! Had I made the Olympic hockey team, maybe we wouldn’t have beat the Russians? But everything works out for a reason, and I do not believe I could be any happier than I am today!

Interview has been edited and condensed.