Ironshore has announced its entry into high end pleasure craft, yachts and mega yachts on a global basis.
James G. Bishop, Jr., with more than 25 years of maritime experience, has been named to lead the unit that will provide cover for boats, yachts, luxury yachts and mega yachts and support Ironshore’s Personal Lines business for high net worth homeowners.
Mr. Bishop will be based out of Ironshore’s new office in Tampa, Florida and report to David Frediani, President of Ironshore International.
"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," said Mr. Frediani.
"Ironshore believes this underserved specialty sector presents potential growth opportunities, and we are pleased to have James, a seasoned marine underwriter, spearhead this initiative."
Mr. Bishop has more than ten years of experience in underwriting yacht insurance with ACE, with five of those years concentrating in the luxury and mega yacht sector. As a Senior Premier Underwriter for ACE, he focused on yachts of up to $75million in hull value with worldwide navigation capabilities.
His broad industry knowledge of the marine sector was acquired through a variety of roles within the broader recreational boating industry.
He has been responsible for overseeing yacht deliveries on sail and powerboats, crewing on private yachts, managing tour boat operations, and working within the U.S. and Caribbean for one of the world’s leading yacht charter companies.