Keith,
Nice research mate! I totally agree that the wording of the average insurance policy entitles you to claim for trackday incidents, but I still disagree that we're already paying for that aspect of the policy...
Just because there's a loophole which allows the claim, this doesn't mean the underwriters have factored in the additional risk (if any) of track riding when working out the premium.
But who knows... maybe they do allow these claims but just try to wriggle out of paying! Where's the conspiricy theorists among us!!!
nb