Ironshore launches energy equipment facility for on-shore middle market
Liberty Mutual Company unit Ironshore Insurance Services has formed an energy equipment facility offering property and inland marine insurance coverage for on-shore middle market classes of business in the US.
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 on-shore energy sector, with an emphasis on contractor equipment businesses.
Ironshore’s global energy industry practice underwrites insurance programmes for commercial entities across all classes within specialty markets, including casualty, property, environmental, marine, professional lines and political risk.
“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. “As part of Liberty Mutual’s Global Risk Solutions, Ironshore can now provide clients an even more comprehensive suite of product solutions to meet coverage demand.”
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