Bermuda-based insurer Ironshore Inc. announced yesterday that it has established a dedicated Energy Casualty division, as an extension of its Global Energy unit.

Ironshore will underwrite comprehensive casualty coverages on commercial risks across virtually all classes within the Energy Sector to complement its existing Global Energy Property division.

Ironshore will provide up to $10 million in capacity targeted to lead umbrella and excess layers. The Energy Casualty business will underwrite all traditional energy classes of business, including oil and gas, power generation, and utilities.

"The ever-changing energy insurance market calls for additional capacity during periods of market disruption," said Susan Kostro, vice-president of casualty, who is leading the initiative.