Managing general underwriter Global Special Risks (GSR) has unveiled its realigned product portfolio to address the changing needs of the energy and marine insurance markets, which form the core of its clientele.
Leveraging its experience in the sector, the company is offering more specialized coverage solutions to address changes in its niche markets.
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In the energy sector, coverage requirements are changing as alternatives to oil and gas are sought. Meanwhile, Maritime Strategies International, a shipping consultancy, observed a recovery in the marine market, which has been in the doldrums since last year due to oversupply.
These are among the many changes in the market that translate to changes in coverage requirements, which GSR hopes to address with its realigned product portfolio.
“Today I am excited to announce the realignment of GSR’s products into five distinct underwriting units,” said Steve England, GSR president and chief executive in a statement. “Each critical unit is headed by a GSR subject matter expert and staffed with dedicated underwriters who bring specialized product knowledge to their clients. We have diversified our product portfolio while at the same time streamlined our offerings to better address the needs of our clients in the near and long term.”
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