Ironshore enters yacht insurance market

Author:
Updated:
Original:

Ironshore Inc. said it is now covering high-end pleasure craft, yachts and megayachts on a global basis.

James G. Bishop Jr., who the company said has more than 25 years of experience in the maritime sector, has been named to lead a unit that will provide cover for boats, yachts, luxury yachts and megayachts and support Ironshore’s personal lines business for high-net-worth homeowners.

Bishop will be based at Ironshore’s new office in Tampa, Fla., and will report to David Frediani, president of Ironshore International.

The yacht insurance market has been challenged during the past several years because of the economic slowdown, the soft pace of growth in the recreational marine sector and susceptibility related to heightened catastrophic risk exposures, said Frediani in a statement.

He also said his firm believes the specialty sector presents potential growth opportunities.

Founded in 2006, Ironshore is backed by a holding company with more than $1 billion in fresh capital.

Related

ABYC Foundation Seeks Nominations for Educator Award

The award recognizes “an outstanding instructor who is shaping future marine service technicians.”

P.R. Firm Rushton Gregory Signs ePropulsion

The Chinese manufacturer of electric propulsion products introduced a standardized lineup earlier this year.

Dometic Updates Pro-Trim System

The new design allows boaters to trim the outboard and adjust the jack plate without removing their hands from the wheel.

Brunswick Partners with Carnegie Robotics

Through the alliance, Brunswick aims to enhance its autonomous technology offerings.

Nicole Vasilaros to Depart NMMA

The group credits the senior vice president of government and legal affairs for “countless contributions to the protection and expansion of the recreational boating industry.”

Site Unseen

A website is often the first interaction a customer will have with a dealership, but it must provide more than an online brochure or they will click elsewhere.

C.G. Amends Documentation Rules

Federally documenting a boat now must be done every five years, rather than annually.

The 2021 Top 10 Most Innovative Marine Companies Awards

The marine industry consistently honors products and people. The industry, however, has not recognized forward-thinking companies that are moving the industry in new directions. Soundings Trade Only’s mission is to reflect, inform and inspire.