Louisiana insurance regulators have approved Ironshore Insurance Ltd. to provide property and catastrophe insurance in Louisiana on an excess and surplus basis for risks located in the state.
The company said it would provide commercial property and condominium coverages for the entire state, including the coastal-exposed businesses.
Insurance Commissioner Jim Donelon said the Louisiana Department of Insurance views “the entrance of Ironshore as a key achievement in our move towards bringing new insurers into the state.”
Ironshore Insurance Ltd. is a Bermuda-based specialty insurance company with over $1 billion of capital. The company provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Ironshore’s initial market profile included property catastrophe and property all-risk coverage for small to mid-sized commercial risks.
With the launch of IronPro in May 2007 and IronBuilt in October 2007, Ironshore expanded its platform into the professional liability and specialty construction market sectors. Ironshore Insurance Ltd. is rated “A-” (Excellent) by A.M. Best Company with a Financial Size Category of Class XI.
Sources: Ironshore Insurance, Louisiana Department of Insurance
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