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Apr 23, 2010
IronPro to Offer Professioal Liability Program To Specialty Architect and Engineer Sector
Hamilton, Bermuda, April 23, 2010 – IronPro, the professional liability division of Ironshore Inc., announced that it will offer a new national Architects and Engineers Professional Liability Program in cooperation with All Risks, Ltd. IronPro will provide professional liability coverages for a range of targeted architectural and engineering sectors of $5 to $15 million through the All Risks nationwide distribution network.
The IronPro Architects and Engineers Program policy form includes a broad definition of professional services, offers worldwide coverage, and provides coverage for predecessor firms as well as automatic coverage for joint ventures. Coverages available include Pollution Incident Liability, Mediation, Retention Credit, First Dollar Defense, Aggregate Retention, and Specific Project Excess coverage, with no limitations or restrictions on residential or condominium projects.
"Architects and engineers are a unique specialty class of industry professionals that face increased risk exposure during difficult economic times impacting the building trades," said Tom Monaghan, Senior Vice President of IronPro. "IronPro’s new professional liability program was designed specifically to address marketplace demand to help architectural and engineering firms protect against a broad range of risk management issues."
All Risks will serve as program administrator through its National Specialty Programs unit, with a specialization in architect and engineer professional liability risk management for defined sector classes that include Interior Design, Landscape Architecture, Golf Course Architecture, Civil and Electrical Engineering, Surveying and Construction Management, among others.
"We are pleased to be building upon the success of the Architects and Engineers program as we partner with IronPro to broaden this specialty sector of the marketplace," said Chris Kelleher, Vice President of National Specialty Programs at All Risks, Ltd.
About Ironshore
Ironshore provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Through its platform in Bermuda, including Iron-Starr Excess, Ironshore writes property and excess casualty insurance for global commercial risks. Ironshore’s U.S. operations write commercial property and casualty insurance, including a variety of coverages in the Management & Professional Liability, Healthcare Liability, Construction and Environmental specialty areas, as well as Energy Property and Casualty within its Global division. Specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. The Ironshore group of insurance companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of Class XI. Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, please visit www.ironshore.com.
About All Risks Ltd.
All Risks Ltd., based in Maryland, is a leading independent wholesale brokerage firm offering comprehensive insurance solutions with a full service platform of brokerage, contract binding, national programs and personal lines products for retail agents and brokers. The 45-year firm employs more than 450 individuals in offices located in ten states nationwide. www.allrisks.com
