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:
Yellow weather warning issued for snow
Wintry showers expected overnight and into Friday
Daniel's Law: 'Opt-out' organ donation system comes into force
Human Tissue and Organ Donation Act brings Island into line with UK
2026 New Year's Day Dips: where and when are they happening?
Hundreds set to take a chilly plunge into the Irish Sea
New waste management strategy aims to make system ‘financially viable'
Government says it will invest in essential recycling and household waste infrastructure