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Veteran driver Shane Navin was killed in 2021 when his 1979 Mazda RX-7 crashed into a creek on a west coast section of the Targa Tasmania course.
In 2022, Anthony Seymour died on a mountainous section of the course when his Lotus Exige S Coupe crashed through a wire barrier and down an embankment.
Coroner Simon Cooper, who investigated the deaths, said he was satisfied driver error was the cause of each accident.
Mundy and Seymour were driving at excessive speed and in vehicles designed specifically for racing on racetracks.
The coroner questioned whether such cars, built for controlled environments, should be used in variable conditions on public roads that don’t have purpose-built safety features.
Navin “fishtailed” in wet conditions, ending upside down in a creek.
His surviving co-driver was unable to revive him, with assistance from a “sweep” car not arriving until 32 minutes after the accident.
Mundy had approached a crest at 188.5km/h and had either “ignored or overlooked” information in race notes and a warning on a board.
Seymour lost control at 101km/h in wet conditions and could have gotten into trouble when reacting to two bumper bars, left by other competitors, on the roadway.
The coroner said the event at the time had no system in place to report debris left behind.
Targa Tasmania is set to return in November with a range of safety changes and a shift to a spring timeslot.
An internal review by race organisers made 94 recommendations, including changes to average maximum speed, course signage and power-to-weight ratios.
“The passage of time has given us an amazing opportunity to undertake a detailed review of the event,” Targa Australia chief executive Mike Perry said in 2024.
The coroner said the recommendations, most of which had been implemented, were comprehensive and addressed issues raised at the inquest.
He believed neither Mundy nor Seymour should have been competing because of their health.
Each of the four men who died were over 59 and were taking medication for pre-existing conditions.
Mundy had heart disease and Seymour an inflammatory disease, vocal cord paralysis and had recently had COVID-19.
“Nonetheless, individual responsibility is not something that can be overlooked,” the coroner said.
“All of the men who died … were experienced competitors. They all knew the risks of competing and voluntarily assumed those risks.”