Bermuda-based Ironshore Inc. has been named Official Insurer for Oracle Team USA for the 35th America’s Cup. The announcement said the company will “provide comprehensive insurance coverage for the team, from the Louis Vuitton America’s Cup World Series Bermuda regatta, taking place Oct. 16-18, 2015, through to the America’s Cup finals in Hamilton, Bermuda in June 2017.”
Mitch Blaser, CEO of Ironshore’s Bermuda office, also noted that Ironshore is a sponsor, as well as the insurer, of the Oracle Team that is defending the 35th America’s Cup. He said: “Hosting the America’s Cup in 2017 will be a fantastic achievement for Bermuda with legacy benefits for years to come. We are proud to support Bermuda and Oracle Team USA during this extraordinary chapter in Bermuda’s history.”
Ironshore, which was founded in Bermuda, said its coverage would include “marine, cargo, travel, umbrella liability, property, casualty and personal accident insurance.”
The announcement also indicated that the Oracle Team has “fully established operations in Bermuda with its base at the Royal Naval Dockyard. Its team of sailors, designers, shore crew and support personnel live and train in Bermuda in preparation for the Louis Vuitton America’s Cup World Series regattas and the America’s Cup Finals presented by Louis Vuitton to be held in Bermuda in June 2017.”
Grant Simmer, the Oracle Team’s General Manager and COO described Ironshore, as a “company that knows Bermuda and understands the industry we work in;” adding that it has “tailored its coverage to protect our risks both on and off the island, giving us peace of mind as we continue our preparations to defend the America’s Cup in 2017.”
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