Ironshore launches midmarket oil and gas program
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Hamilton, Bermuda-based Ironshore Specialty Casualty on Monday said it has formed Ironshore Energy Solutions, a dedicated oil and gas facility that offers liability coverages for onshore middle-market energy classes in the United States.
Specialty managing general agency Ironshore Insurance Services L.L.C. will deliver capacity to underwrite middle-market sector risk on behalf of six consortium insurance companies, Ironshore Specialty said in a statement.
Ironshore Energy Solutions will provide up to $11 million in insurance capacity for general liability and umbrella coverages for complex sector risks, according to the statement.
The facility will underwrite liability risk for U.S. middle-market energy entities with annual revenue of $5 million to $200 million. Target energy classes are onshore oil and gas operators, contractors and small midstream companies. Comprehensive terms and conditions of coverage will be structured to the specific coverage demands of the risk, according to the statement.
“Ironshore’s new energy facility promises broader coverage options and deeper capacity, allowing specialty brokers and agents within these markets access to a more robust suite of products,” Vice President Ben Johnson said in the statement.
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