Ironshore Insurance Services LLC has formed an energy equipment facility offering property and inland marine insurance coverage for onshore middle market classes of business in the U.S.
Ironshore’s Syndicated Risk Services (SRS) will underwrite the middle market sector risk on behalf of four Lloyd’s of London subscribing partners.
SRS will provide up to $10 million in capacity for oil & gas operators and contractors operating within the onshore energy sector, with an emphasis on contractor equipment businesses. SRS defines the middle market sector as insured operations with up to $10 million in equipment values, according to Ben Johnson, Director, SRS. Comprehensive terms and conditions of the coverage will be structured to the specific coverage demands of complex risks.
“The new property facility offers an alternative source of capital for energy equipment businesses in the U.S. middle market that are currently underserved,” said Daniel Owen, senior vice president, Energy and Builders Risk.
Ironshore’s Global Energy Industry Practice underwrites insurance programs for commercial entities across all classes within specialty markets, including casualty, property, environmental, marine, professional lines and political risk.
Ironshore, a Liberty Mutual Company, provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world.
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