Ironshore’s Specialty Casualty arm has expanded its energy coverage capacity with a new oil and gas facility, Ironshore Energy Solutions, to deliver capacity for U.S. on-shore middle market energy liability risks.
The facility will provide capital to underwrite middle market sector risk on behalf of six consortium insurance companies and has put an initial $11 million forwards in capacity for General Liability and Umbrella coverages for complex sector risks.
Global Energy Industry Practice leader, Ron Gleason, said; “Ironshore’s newly established facility will provide much needed insurance capacity to an underserved sector of the energy industry at a time when many operations are beginning to rebound from intense commodity pricing pressures.”
The oil and gas facility will streamline revenue for coverage of on-shore oil and gas operators, contractors, and small mid-stream companies energy classes, underwriting liability risk for U.S. middle market energy entities with annual revenues from $5 million to $200 million.
Ironshore Vice President, Ben Johnson, commented; “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.”
