Hamilton, Bermuda-based Ironshore Inc. announced the company has entered into the specialty construction sector with the launch of its IronBuilt division. IronBuilt, based near Boston, offers construction risks protection with an emphasis on residential wrap-up liability insurance and liability insurance for sub-contractors involved in residential construction.
“We view IronBuilt as an excellent opportunity to expand our specialty insurance platform into the construction risks arena,” said Bob Deutsch, CEO of Ironshore.
IronBuilt will be run under the direction of industry veteran Joe George as president. George has been a recognized expert in the specialty insurance sector for more than 30 years, with over 20 years as a casualty underwriting executive specializing in underwriting large, unique excess and primary accounts. Most recently, George operated as a program administrator for Glencoe/Lantana Insurance Companies, subsidiaries of Renaissance Re.
Ironshore provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Ironshore’s initial market profile included property catastrophe and property all-risk coverage for small to mid-sized commercial risks. With the launch of IronPro in May 2007 and IronBuilt in October 2007, Ironshore has expanded its platform into the professional liability and specialty construction market sectors. Ironshore Insurance Ltd. is rated A – (Excellent) by A.M. Best Company with a Financial Size Category of Class XI.
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