Ironshore’s specialty casualty transportation unit has launched a new suite of endorsements offering coverage enhancements for transportation product manufacturers and distributors, known as TransitProtect Plus.
Coverage is underwritten on a primary basis with limits up to $5 million on an occurrence or claims-made basis.
Enhancements include extensions for additional insureds and vendors as well as limited professional liability, garage keepers legal liability and lot or batch coverages. Target classes of business include manufacturers and distributors of automobiles, commercial vehicles, recreational motor vehicles and watercraft, and railroad equipment.
The Bermuda-based insurer’s Crisis ThreeSixty coverage, with recall reimbursement expense, provides a crisis management benefit for clients to assist with preparing for and responding to a product recall event. Coverage is available on a first dollar basis and includes a complimentary pre-event consultation, as well as post-event assistance surrounding a product recall.
Tim McAuliffe, president of specialty casualty, Ironshore, said: “Our seasoned production team understands the complex risks and coverage needs of transportation product manufacturers and distributors. TransitProtect Plus allows us to customise coverage to meet the specific needs of each client facing challenging transportation risks.”
Ironshore, Specialty casualty transportation unit, TransitProtect Plus, Crisis ThreeSixty, Insurance, Insurer,Tim McAuliffe, Bermuda