Ironshore Australia Launches Marine Unit to Cover Fine Art, Specie, Cargo Classes

November 19, 2013

Ironshore Australia has entered the fine art, specie and cargo insurance sectors in Australia through the creation of a new marine unit.

Ironshore’s team will focus on underwriting a range of both static and transit fine art risks for Australian-based companies and high net worth individuals, providing insurance coverages for fine art and valuables collections of private owners, museums and art galleries, among others.

The marine unit will also underwrite specie business in the mining, energy and infrastructure sectors, including precious metals transit. Additionally, Ironshore will be seeking participation on syndicated project cargo programs and lead positions on bespoke cargo placements. Coverages can be underwritten for limits of up to $40 million (AUD/USD) and will complement the services that Ironshore already offers the Australian market via its London-based operations.

Ironshore Australia will target opportunities in partnership with multinational broking houses, smaller regional intermediaries, as well as with industry groups and associations.

The unit will be led by Ian Rouse, who will also maintain regional responsibility for the political risk and structured credit portfolio. Caroline Jones has joined the firm as underwriter for the classes. Jones joins Ironshore Australia from Pembroke Managing Agency Ltd. in London, where she was an underwriter for fine art and specie risks.

Ironshore Australia also provides coverage for mergers & acquisitions, political risk, war and terrorism, professional lines, and structured credit risks.

Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms.

Ironshore Australia Pty. Limited CAN 149 117 724 is an Australian Financial Services Licensee (No. 410699), authorized to provide financial services by dealing in and advising on general insurance products, both for retail and wholesale clients. Ironshore Australia is an approved Lloyd’s Coverholder 110616STY, with current binding authority from Lloyd’s Pembroke Syndicate 4000.

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