Ironshore Inc. has announced its entry into the high end pleasure craft, yacht, and mega yacht insurance business.
The company also announced that it has named James G. Bishop, Jr., who has over 25 years of maritime experience, to 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 will report to David Frediani, the 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 10 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 $75 million in hull value with worldwide navigation capabilities. His 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.
Learn more: www.ironshore.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].