WEDNESDAY, FEB. 1: Ironshore Inc. announced the creation of a Special Risk Unit.

Paul S. Giordano has been appointed chairman for political and special risk and Daniel L. Sussman has been named president of Ironshore Special Risk.

Mr Sussman will continue in his current role as president of Ironshore political risk, reporting to Mr. Giordano in both capacities.

Mr Giordano will continue to serve as Ironshore’s general counsel and secretary.

Ironshore Special Risk will underwrite non-standard risks that traditionally are not included within customary property and casualty product lines, such as tax credit recapture risks and finance-related insurance on select classes of aviation and industrial assets, among others.

Mr Giordano said: “Ironshore is committed to providing innovative insurance coverages for our customers’ complex, specialized risks.

“I look forward to working with Dan to continue building our capabilities in this important area of Ironshore’s business.”

Mr Sussman further added: “We are moving forward with Ironshore Special Risk to build on and extend the success and strategic value proposition of our Political Risk Unit and to meet the strong demand for these unaddressed insurance needs of our customers.”

Ironshore’s political risk unit provides insurance protection for financial institutions, global commodity firms, and multinational corporations managing unforeseen risks inherent when conducting business in global markets, including the political risk suite of products and a broad range of trade-related coverages.