Bermuda-based insurer Ironshore has established a dedicated Global Builders Risk Property business as an extension of its Global Property division.

Joseph Vierling, formerly with Bermuda rival Arch Capital, has been named vice-president, Builders Risk, to lead the new programme, reporting to John Murphy, Ironshore's head of global property.

The new operation will be based in Ironshore's New York City offices.

Ironshore will underwrite the construction of Civil Engineering projects such as roads, bridges, water treatment plants and buildings, as well as Mechanical Engineering projects for oil and petrochemical facilities, utilities and heavy manufacturing plants.

Coverage will be provided for the construction works period including the installation, assembly, erection, and testing and commissioning of plant and machinery. Delay in start-up and phased operation coverages are also available.

Ironshore will provide up to $25 million in capacity targeted to project-specific construction risk.

"Ironshore will work with brokers and their clients to design insurance programmes that are tailored to meet individual project-specific needs," said Mr. Murphy. "Joe's unique expertise in this specialty sector will enable him to develop and grow Ironshore's Builders Risk program within the global construction community."

Mr. Vierling joins Ironshore with more then 20 years of experience in the fields of engineered risk and global property. Most recently, he was the product line manager for Arch Insurance Group CAR/EAR Department where he focused on development of the global programme portfolio.

From 1999 until December 2003, Mr.Vierling was a product line manager in the Engineered Risk Department of Swiss Re America, responsible for underwriting, product development and marketing within the eastern region.