Ironshore has launched its “Private Insurance Portfolio” product for high net worth homeowners in New York.
The company said in a statement that the new product, a customized policy providing property and liability coverage for homes valued in excess of $1 million, will be underwritten on an admitted basis in New York through its network of independent retail and wholesale agents and brokers.
The company said that the new product “extends to the homeowner and family home property, household contents, personal valuable articles, and umbrella liability coverage. In addition, on a stand-alone basis, watercraft/yacht coverage is also available.”
It added that the policy features “first or second home full replacement cost, flexible limits for other property structures, contents and loss of use, cost-saving deductible options, as well as package discounts and credits for superior, complex risks.”
In addition, the company continued, valuable articles coverage “provides scheduled or blanket protection for loss or damage to jewelry, fine art, and other personal belongings and collections. Comprehensive liability coverage of up to $10 million in worldwide coverage can be secured under the personal umbrella option as well as uninsured/underinsured protection, which covers both vehicular and non-vehicular incidents. Watercraft and yacht coverage is available for limits of up to $10 million.”
The new product “is designed to align with the interests and distinct attributes of high net worth individuals and their families,” said Daniel Olmsted, the head of Ironshore's private client group. ”Our comprehensive policy features ensure that client families and household assets are adequately protected against unforeseen property losses and potentially ruinous liability claims.”
The Ironshore Private Insurance Portfolio insurance plan now is underwritten on an admitted basis in five states, including Connecticut, Pennsylvania, New Jersey, and Georgia.
Mr. Olmsted added that “by working with leading New York state independent insurance agents and brokers, our high net worth clients can receive the insurance advice they need to choose the most appropriate, responsive policy coverage to meet their unique coverage demands.”
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].