Teams are needed to throw caution to the wind and enter the Lloyd's Yacht Club global challenge – the Lutine Regatta.

The sailing event for the insurance industry will be a grand prix style regatta with the winner being awarded the Lutine Trophy.

The yacht race will be held at the Yarmouth, Isle of Wight on July 15 and 16.

Each boat will be allowed one professional sailor, though they will not be allowed to the helm any time after the 10 minute gun.

The event will be open to two boat teams of IRC handicapped yachts competing in three races. Races will be sailed under RRS Rules with RYA Prescriptions.

Entrance fee will be £850 per sponsoring team and £500 per non sponsored team.

The event is part of a global sailing challenge to be held in Long Island Sound in September 2000 and Sydney Harbour in February 2001.

There will also be a pre regatta black tie dinner to be held on Friday 14th at the Royal Solent YC.

More information on the race can be obtained from Donald Moreton at Lloyd's Yacht Club on 01-623 7100.