View this article online: https://www.insurancejournal.com/news/national/2014/01/15/317193.htm
Ironshore’s U.S. Specialty Casualty unit has launched a new coverage option for U.S.-based companies with overseas operational risk exposure. Ironshore International Connect will provide excess casualty coverage for U.S. companies’ overseas operations on a locally-admitted basis, which is designed to be compliant with market rules and regulations. Ironshore International Connect simplifies the process for U.S. companies to obtain required liability coverage for international risks in regulated markets worldwide. Coverage terms and conditions, which are written in English, are the same as Ironshore’s U.S. domestic excess liability program, with limits available of up to $50 million.
According to Tim McAuliffe, president of Ironshore U.S. Specialty Casualty, compliance and regulatory guidelines in local markets worldwide can create a burden on U.S.-based companies to ensure that insurance coverage is compliant in addressing overseas operational risks. Ironshore’s new option mirrors the existing U.S. excess casualty program to provide insureds with comprehensive, locally-admitted coverage.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms.