New capabilities offer energy, construction, general property coverage
Hamilton, Bermuda (June 23, 2014) – Ironshore Canada has announced its entry into the Commercial Property Market with capacity that enhances its existing suite of specialty products available in the Canadian region. Ironshore Canada has licensed approvals to provide property coverage products to select, specialty sectors in every Canadian province, except Quebec. Commercial Property insurance products are now available for General Commercial Property, Energy Property, and Builder’s Risk Property with capacity limits ranging from $25 million up to $45 million, based on each respective client’s coverage needs.
“Ironshore Canada is pleased to add commercial property coverage alongside its existing product offerings to meet increasing client and broker demand throughout the region,” stated Stephen Stewart, Chief Agent, Ironshore Canada. “Our newly established capacity for property risks complements distribution capabilities and reinforces Ironshore’s commitment to the Canadian marketplace.”
Ironshore Canada’s General Commercial Property offers coverages for limits of up to $45 million on a Primary, Quota Share, Excess of Loss or Full Value basis, with a product focus on Property and Business Interruption exposures and catastrophic risks, including Earthquake (British Columbia), Flood and Named Windstorm.
Energy Property provides coverage for property damage, machinery breakdown, and business interruption across virtually all classes within the specialty sector, including refining and power, such as renewable energy, surface and underground mining, and pipelines among others. Policy capacity limits are available of up to $25 million.
Ironshore Canada’s Builder’s Risk Property team underwrites the construction of civil engineering projects, such as roads, bridges, tunnels, and buildings, as well as mechanical engineering risks for oil and petrochemical facilities, utilities and heavy manufacturing plants. Builder’s Risk Property products provide property risk transfer coverages for global and Canadian corporations with international and domestic capabilities for limits of up to $35 million.
Ironshore Canada, established in 2010, also offers coverage through a suite of insurance products underwritten for Financial and Professional Lines, Mergers & Acquisitions, Casualty, Environmental, Specialty Property, Political Risk, Structured Trade Credit, Fine Arts, and War & Terrorism.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms. The Ironshore group of companies is rated A (Excellent) by A.M. Best with a Financial Size Category of Class XIV. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, please visit www.ironshore.com.