Summary
This year's Kentucky Derby on May 7 will mark the horse race's 131st consecutive run for the roses. But only three months earlier, officials were worried. An insurance problem had arisen, one that involved the sport's jockeys. In February, Derby organizer Churchill Downs Inc. mounted a two-pronged effort to safeguard the race. On Feb. 15, the company said it was working to provide $1 million in ontrack insurance coverage for jockeys who compete at its seven racetracks, including Churchill Downs in Louisville, the site of the Derby. Churchill Downs also announced it would begin withholding voluntary payments of about $375,000 it has been paying annually to the Jockey Guild through the Thoroughbred Racing Associations. The guild had used at least some of that money until 2002 to buy insurance for jockeys, but stopped buying the insurance that year when new management took over. That left jockeys with just $100,000 in coverage provided by the racetracks at which they rode.
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A Sure Thing
This year's Kentucky Derby on May 7 will mark the horse race's 131st consecutive run for the roses. But only three months earlier, officials were worried. An insurance problem had arisen, one that involved the sport's jockeys. The worst-case scenario was that they would boycott the race, as they had boycotted two events in November.
In February, derby organizer Churchill Downs Inc. mounted a twopronged effort to safeguard the race. On Feb. 15, the company said it was work...See the full content of this document
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