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Ryan Specialty unit offers enhanced energy and marine policies


Global Special Risks L.L.C., a division of Ryan Specialty Group L.L.C., has introduced a new and enhanced product portfolio to the energy and marine insurance market.

The new products were designed to provide more specialized coverage solutions to clients in the energy and marine space, Houston-based GSR said Monday in a statement.

The company has realigned its products into five distinct underwriting units, with each unit headed by an expert in the subject and staffed with underwriters with specialized product knowledge, Steve England, president and CEO of GSR, said in the statement.

Those units are OEE/control of well, casualty, property, marine and specialty.

“The five verticals are intended to provide an organized view of the GSR product offerings,” Mr. England said Tuesday in an email. “Retail agents that market business through an energy vertical will be able to easily navigate our product offering by product type.  Likewise, those retail agents that organize themselves around product types such as property or casualty or marine will quickly find the product information they need, without having to look through all the products offered in the other categories.”

GSR also is developing products for emerging exposures such as cyber liability, he said.  The product development process includes discussions with retail agents about market conditions, and interviews with clients and client advocates about coverage needs and exposures.

GSR also launched a new website, www.gsrum.com, designed to deliver easy access to GSR’s specialty products and services, according to the statement.

Mr. England said in the email that GSR has shifted over the last three years from a London open-market broker, with limited underwriting authority, to an underwriting company.