F1 News: Ferrari Continues Fight For Carlos Sainz's Las Vegas Crash Compensation

Ferrari team principal Fred Vasseur has confirmed the team has re-opened a case with the insurance company for compensation after Carlos Sainz's Las Vegas GP damage.

Ferrari has been grappling with the repercussions of Carlos Sainz's crash at the Las Vegas Strip Circuit. The incident, which caused significant damage to Sainz's Ferrari, has led to a complex insurance claim process as Ferrari seeks compensation for the costly damages.

Key Takeaways:

• Severe Damage During Practice Session: Carlos Sainz suffered catastrophic damage to his Ferrari during the first practice session in Las Vegas due to a manhole cover, affecting the chassis, floor, and power unit of the car. This incident led to a 10-place grid penalty for Sainz, despite the damage being beyond his control.
• Ferrari's Insurance Claim Battle: With the strict budget caps in Formula 1, the cost of repairing the car significantly impacts Ferrari's budget, including the development of their 2024 car. Team Principal Fred Vasseur confirmed that Ferrari has reopened discussions with the insurance company, emphasising the fairness of receiving compensation for the damage.
• Precedents in Formula 1 Insurance Claims: There is a precedent for teams receiving insurance payouts for unusual damages, as seen with Romain Grosjean’s Haas at the 2017 Malaysian Grand Prix. While these claims can take a long time, as experienced by Haas, they demonstrate the possibility of teams recouping costs in exceptional circumstances.

The incident occurred when Sainz drove over a manhole cover during the first practice session, causing extensive damage to his vehicle. The damage was not only limited to the car's chassis and floor but also extended to the power unit, necessitating a change of the Energy Store. Unfortunately for Sainz and Ferrari, the rules did not allow for any exception under force majeure, resulting in a grid penalty for Sainz.

Ferrari's team principal, Fred Vasseur, expressed his concerns about the situation during a media interaction at a Ferrari Christmas lunch. He highlighted the complex and lengthy process of dealing with insurance claims in Formula 1, stating: 

“No, no. You know that, when you open the discussion with the insurance, it’s ages! It’s true everywhere, including in F1.

"We will have the time to have the discussion, we reopened the case yesterday or the day before. But it would be fair!”

This situation is reminiscent of the Haas team's experience in 2017 when a loose drain cover destroyed Romain Grosjean's car at the Malaysian Grand Prix. Haas had to wait a year to receive a payout of approximately €650,000 from the insurance company. 

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