Trustees of the Professional Riders Insurance Scheme (PRIS) have given their approval to a new policy, secured by BHB, which will help restore financial certainty to the Scheme and thus avoid any immediate need for an additional financial contribution by Racing.

BHB’s insurance brokers arranged a highly competitive quote to underwrite PRIS’s Capital and Permanent Disablement Policy, which from 1st August will reduce PRIS’s costs and enable the Scheme to operate on a sounder, ongoing basis.

BHB Chief Executive Greg Nichols said: “As reported in the media, there has been real concern about PRIS’s ongoing viability. We’re therefore very pleased to have secured terms which maintain this important scheme for jockeys, who are pivotal to the sport and require reassurance that there is a safety net.

“BHB’s insurance brokers, SBJ Stephenson, arranged an extremely competitive quote which was not only cheaper but provides superior benefits. This is an excellent outcome for PRIS, for jockeys and for Racing.”

Christopher Sporborg, chairman of the PRIS Trustees, said: “We have been seeking a solution to PRIS’s precarious financial position for a couple of years and these newly acquired terms provide a welcome breathing space and an overdue opportunity to review benefits by the British racing industry as a whole.”

John Blake, Chief Executive of the Jockeys Association, said: “We very much welcome this news. It is absolutely right that our jockeys go to work safe in the knowledge that reliable and fair cover is in place should injury keep them sidelined for a few weeks, or worse still finish their careers.”