Underwriter boosts Aussie business with new unit

Underwriter boosts Aussie business with new unit | Insurance Business

Underwriter boosts Aussie business with new unit

Ironshore Australia has entered the fine art, specie and cargo insurance sectors in Australia through the creation of a new marine unit.

Ironshore’s team of professionals will focus on underwriting a diverse range of both static and transit fine art risks for Australian-based companies and high net worth individuals, providing insurance coverage for fine art and valuables collections of private owners, museums and art galleries, among others.

The marine unit will also underwrite specie business in the mining, energy and infrastructure sectors, including precious metals transit.

Additionally, Ironshore will be seeking participation on syndicated project cargo programs and lead positions on bespoke cargo placements. Coverage can be underwritten for limits of up to $40m (AUD/USD) and will complement the services that Ironshore already offers the Australian market via its London-based operations.

Ironshore Australia will target opportunities in partnership with multinational broking houses, smaller regional intermediaries, as well as with industry groups and associations.

The unit will be led by Ian Rouse, who will also maintain regional responsibility for the political risk and structured credit portfolio. Caroline Jones has joined the firm as underwriter for the classes. Jones joins Ironshore Australia from Pembroke Managing Agency in London, where she was an underwriter for fine art and specie risks.

“Fine art, mining-related specie and project cargo insurance have emerged as growth opportunities within the region with companies and their brokers increasingly seeking highly tailored coverage solutions from the Australian marketplace,” said Rouse. “Caroline’s Lloyd’s of London experience further bolsters Ironshore Australia’s depth of expertise in these highly technical lines of business.”

Ironshore Australia also provides coverage for mergers & acquisitions, political risk, war and terrorism, professional lines, and structured credit risks.