Ironshore Inc. has launched a Timberlands Insurance Program designed by Palmer & Cay, LLC for institutional timber tract owners and managers.
Ironshore will underwrite a portfolio of policies created exclusively by Atlanta-based broker Palmer & Cay, LLC for the protection of timber assets, providing property/casualty coverages, as well as addressing professional, management and environmental liability risk.
Ironshore’s Timberlands Insurance Program was developed in conjunction with Atlanta-based insurance brokerage and consulting firm, Palmer & Cay, LLC, which will offer the specialty insurance program to institutional, industrial, and private timber owners, managers and investors within the U.S.
“The institutional timber industry is confronted with the potential for significant loss yet has been underserved in the insurance marketplace due to limited and often costly options for protecting this asset class,” said Jack Tribble, partner and timber industry specialist with Palmer & Cay.
The policy protects against potential loss to standing timber assets due to catastrophic or unexpected occurrences and provides coverages for costs associated with remediation, reforestation and other related expenses in the aftermath of an event.
Ironshore said its portfolio of specialty liability policies can be incorporated into the insurance package to include General Liability, Hunting Liability, Directors & Officers, Errors & Omissions, Environmental, ERISA and other related professional and management liability coverages.
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