IronPro, the professional liability unit of Ironshore, is introducing a two-term policy endorsement for its Miscellaneous Professional Liability (MPL) product for small business accounts. MPL policy endorsement will streamline underwriting to reduce the brokers’ administrative costs associated with small business accounts, defined herein as professional services providers with less than $5 million in annual revenues. IronPro’s policy will renew after the first year for a second term with the same guaranteed premium terms and conditions as the first policy period.
Ironshore Environmental is offering an enhancement to its Site Pollution Incident Legal Liability Select (SPILLS) policy to broaden its coverage for manufacturers and distributors, as well as other entities with products exposure. The Ironshore SPILLS policy provides comprehensive environmental liability protection enabling insureds to manage a variety of environmental exposures. This new SPILLS policy endorsement extends coverage for pollution incidents caused by the insured’s product after that product has been put to its intended use, helping to fill policy coverage gaps, which exclude bodily injury, property damage and cleanup arising from a product.
Liberty Mutual has announced new appointments to lead commercial lines business for wholesale distribution within its Global Risk Solutions unit. Tara Houvenagle has been named Wholesale Distribution Executive West, and Jessica Ferguson has been named Wholesale Distribution Executive East. They will join the leadership team led by Ben Johnson, Wholesale Distribution Executive for North America, who is responsible for overseeing the development and placement of products and services across Liberty Mutual and Ironshore’s wholesale distribution channels.
Ironshore Environmental offers a stand-alone comprehensive Storage Tank Policy that addresses first- and third-party liability in response to releases from underground and aboveground storage tanks, which is now accessible to brokers through an online Quote & Bind Portal. With available limits from $500,000 to $50 million, this coverage satisfies financial assurance requirements federally and in all 50 states. Of note, the policy carries no minimum premium with deductible options starting at zero dollars for eligible tanks.
Ironshore Specialty Casualty has announced executive appointments to oversee the Programs business unit in the U.S. Casey Hartley has been named Senior Vice President, Head of Programs. As Head of Programs, Ms. Hartley will oversee the development, marketing and distribution of programs lines, working with programs administrators across Ironshore’s underwriting platforms in the U.S. She will be supported by Tracey Sharis, Senior Vice President, who has been appointed Director of Programs.
Elizabeth Holmes tricked investors out of millions by dressing in ‘Steve Jobs’ black and pitching health care technology that didn’t work. The risk management lessons from the Theranos fiasco are both scary and insightful.
The specialty market is booming. According to the Surplus Lines Stamping Office of Texas, E&S premiums recorded by 15 managing services offices in mid-2018 were up $1.4 billion from the previous year — a 9.4 percent bump. Over the past seven years, premiums have jumped 67 percent.
With its acquisition of specialty insurer Ironshore in the Spring of 2017, Liberty Mutual Insurance has taken advantage of this growing market. We sat down with President of Ironshore U.S., Matt Dolan, to talk about how the merger boosts his company’s competitive advantage in an increasingly crowded marketplace, as well as other trends and challenges facing the industry in 2019.
Ironshore distinguishes itself in the industry by closely aligning our claim professionals with members of the underwriting, actuarial and finance teams. This is our way of ensuring that the people who make the promises, keep the promises and that our policyholder claims are handled in a professional and expeditious manner.
The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients. As Ironshore has many U.S. and internationally domiciled companies we have endeavored to comply with the FATCA regulations. All FATCA documentation is available within the following pages upon registration.