Bell, a 58-year-old motorcycle dealer, was competing with his son Carl who was his passenger and was not injured in the crash at Ballaspur, ACU Events said in a statement.
Sidecar driver Dwight Beare, 27, and solo rider Paul Shoesmith, 50, died in separate accidents on the opening day of the TT races last week.
The TT races around the island off the north-west coast of England between Britain and Ireland have been run since 1907 and rank among the most dangerous in motorsport.
(Reporting by Alan Baldwin, editing by Ian Chadband)
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