20 February 2014News

Ironshore plunges into Yacht Insurance Sector

James Bishop, Jr. is appointed to lead Ironshore’s newest team, which will provide cover for high-end pleasure craft, yachts and mega yachts on a global basis. Bishop, who comes to Ironshore from ACE, has more than ten years of experience underwriting yacht insurance.

The new unit will provide cover for boats, yacht, luxury yachts and mega yachts, and support Ironshore’s personal lines business for high net worth homeowners. Mr. Bishop will work out of Ironshore’s new office in Tampa, Florida.

David Frediani, president of Ironshore International, says: “the yacht insurance market has been challenged over the past several years due to the economic slowdown, the soft pace of growth in the recreational marine sector, and susceptibility related to heightened catastrophic risk exposures.”

He concludes: “Ironshore believes this underserved specialty sector presents potential growth opportunities, and we are pleased to have James, a seasoned marine underwriter, spearhead this initiative.”