While the odds may seem stacked against Joe George as he puts building blocks in place for a specialty insurance division targeting residential construction, the industry veteran is working with a blueprint for longer-term success. "Our philosophy is you can't time the market," said Mr. George, president of IronBuilt, a recently launched division of Ironshore Insurance, commenting on the challenges of setting up shop during a soft insurance market.
"You have to pick a good core line. You have to have good people, have the right distribution, do the right things, and then you will be there when the market opportunity does present itself," he said.
While other leaders of start-up surplus lines ventures are all struggling with the same soft insurance market problems, Mr. George faces a somewhat unique challenge related to the core line his unit has chosen.
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