Ironshore Specialty Casualty has formed Ironshore Energy Solutions, a dedicated oil & gas facility, offering liability coverages for on-shore middle market energy classes in the United States. Ironshore Insurance Services LLC, its specialty managing general agency, will deliver capacity to underwrite middle market sector risk on behalf of six consortium insurance companies.
Ironshore Energy Solutions will provide up to $11 million in insurance capacity for general liability and umbrella coverages for complex sector risks.
According to Ron Gleason, leader, Global Energy Industry Practice, said the new facility will use an “innovative” approach to bring alternative capital to the U.S. middle market.
Ironshore Energy Solutions will underwrite liability risk for U.S. middle market energy entities with annual revenues ranging from $5 million to $200 million. Target energy classes are on-shore oil and gas operators, contractors and small mid-stream companies. Comprehensive terms and conditions of coverage will be structured to the specific coverage demands of the risk.
Ironshore’s Global Energy Industry Practice underwrites insurance programs for commercial entities across all classes within the specialty market, including casualty, property, environmental, marine, professional lines and political risk.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world. Select specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000.
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