Feb 29, 2016 - through Ironshore's Pembroke Syndicate 4000. The Ironshore group of companies is rated A u. (Excellent) b
IRONSHORE INC. Editorial Contact: L. Gaye Torrance TorranceCo New York, New York (212) 691-5810 cell: (862) 215-7631
[email protected]
FOR IMMEDIATE RELEASE
IRONSHORE ESTABLISHES PRIVATE CLIENT GROUP TO INTRODUCE CUSTOMIZED POLICY FOR HIGH VALUE HOMEOWNERS - Private Insurance Plan To Be Offered On An Admitted Basis in Select States Hamilton, Bermuda, February 29, 2016 – Ironshore Inc. has established a dedicated Private Client Group to introduce its new insurance plan, the Ironshore Private Insurance Portfolio. Ironshore’s personal lines policy will be available for high net worth homeowners with properties valued in excess of $1 million. Ironshore’s Private Insurance Portfolio provides packaged home, contents, valuable articles and umbrella liability coverage for properties located in select states. Pennsylvania and Georgia will be the first states approved for new business effective March and April 2016 respectively. States to follow will be New Jersey, Connecticut, New York, Massachusetts, Rhode Island, Maryland, Virginia and Washington D.C., subject to regulatory approvals. Ironshore ultimately will expand the product offering nationally. Ironshore’s Portfolio provides home and contents insurance to cover the distinct attributes and protection requirements of high value homeowners. Policy features include full home replacement cost, modified limits for other structures, contents and loss of use, cost-saving deductible options, as well as package discounts and credits for superior risks. A separate valuable articles policy offers scheduled or blanket coverage for jewelry, fine arts and other belongings with no deductible. Ironshore’s Private Insurance Portfolio includes comprehensive liability coverage of up to $1 million in the homeowner policy and up to $10 million in worldwide coverage under the personal umbrella option. Watercraft and yacht coverage with limits up to $10 million also will be available. “Ironshore has designed the Private Insurance Portfolio to address the distinct coverage needs of high value homeowners requiring customized protection for their properties, valued belongings and family members,” stated Kevin H. Kelley, Chief Executive Officer of Ironshore. “Ironshore will offer the
new program through specialty agents and brokers capable of providing their clients with individualized advice and service.” Ironshore’s program will not include automobile coverage but the policy extends credits for insureds with coverage provided by an insurance carrier offered through the same agent or broker. This feature is designed to allow agents to secure automobile coverage to meet their client’s needs. Ironshore Private Client Group has formed a dedicated, personal lines claims management operation to respond in the event of a loss. Daniel Olmsted, Head of Ironshore’s Private Client Group noted, “our experienced team will ensure that claims are handled with adherence to the highest standards of claims service. The Ironshore Private Client Group will assure homeowner confidence in securing streamlined, comprehensive coverage, backed by our unwavering commitment to timely response and claims resolution. ” About Ironshore Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world. Select specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. The Ironshore group of companies is rated A u (Excellent) by A.M Best with a Financial Size Category of Class XIV. Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best, AA- (Very Strong) by Fitch, and A+ (Strong) by Standard & Poor’s. For more information, please visit: www.ironshore.com
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The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service. Any description set forth herein does not include all policy terms, conditions and exclusions. Bound insurance policies, rather than summaries thereof, govern. Not all insurance coverages or products are available in all states and policy terms may vary based on individual state requirements. Some policies may be placed with a surplus lines insurer. Surplus lines insurers generally do not participate in state guaranty funds and coverage may only be obtained through duly licensed surplus lines brokers.
