Ironshore’s US Specialty Casualty unit has rolled out a new coverage solution for US companies with international operational risk exposures.
Known as Ironshore International Connect, the product offers excess casualty coverage for US-based companies’ overseas operations on a locally admitted basis and is designed to be compliant with market rules and regulations.
According to the insurer, the product will simplify the process for US firms to obtain the necessary liability coverage for international risks in regulated markets, globally.
Coverage terms and conditions for the new product are similar to Ironshore’s US domestic excess liability program, with limits available of up to $50m.
Ironshore’s US Specialty Casualty president Tim McAuliffe said, "Compliance and regulatory guidelines in local markets worldwide can create a burden on U.S.-based companies to ensure that insurance coverage is compliant in addressing overseas operational risks.
"Ironshore has the ability to provide an effective solution that mirrors the existing U.S. excess casualty program to provide insureds with comprehensive, locally-admitted coverage with ease of administration."