Ironshore expanding into agriculture sector

Ironshore International, a unit of Hamilton, Bermuda-based Ironshore Inc., said Monday it plans to enter the agriculture sector, offering capacity limits of up to $10 million, with the appointment of a divisional director.

The company said it has named Catherine Besselman as divisional director, global head of agriculture, who will be responsible for business development, underwriting specialty coverages and exploring sector diversification opportunities within Ironshore's global group platform.

Ms. Besselman, who will be based in Ironshore's Los Angeles regional office, will report to Tim Glover, chief underwriting officer of Ironshore International.

Ms. Besselman, who has worked more than 15 years as a specialized underwriter in agricultural risk management, most recently oversaw development of the agricultural unit of the London-based Novae Group P.L.C.

The company said in its statement that Ironshore's product coverages initially will include drought, hail and excess moisture exposures.

The company said capacity limits of up to $10 million will be available for Ironshore's scope of multi-peril livestock and crop risk exposures.

“Agriculture risk management is facing escalating climate, weather and commodity price challenges that heighten the need for industry entities to minimize volatility in managing event outcomes,” said Mr. Glover, in the statement.