DALLAS--(BUSINESS WIRE)--U.S. Risk, LLC ("U.S. Risk") is pleased to announce a strategic alliance with Aspen American Insurance Company ("Aspen Insurance"), a subsidiary of Aspen Insurance Holdings Limited, to offer a specialty insurance product designed for the marine industry which will provide comprehensive coverage for vessel-assist towboat operators, pilot vessel operators, sightseeing and dinner cruise charterers, passenger ferries and water taxis. This coverage will be available on an admitted basis across all 50 states.
Randall Goss, CEO of U.S. Risk, commented: “We are excited to announce our partnership with Aspen Insurance, and to introduce a marine product with unique enhancements and an innovative policy form to meet our customers’ needs.”
Patrick Hickey, Executive Vice President & Head of U.S. Marine, Aspen Insurance, added: "This partnership allows us to jointly offer a custom marine insurance solution for this particular segment of business. We believe that the combination of Aspen Insurance's product offering and U.S. Risk's scale and excellent customer service will be well received in the market."
About U.S. Risk, LLC
U.S. Risk, LLC (www.usrisk.com) is a leading international specialty lines underwriting manager and wholesale broker headquartered in Dallas, Texas. Operating 16 domestic and international branches, it offers a broad range of products and services through its affiliate companies, which include U.S. Risk Underwriters, U.S. Risk Brokers, U.S. Risk Financial Services, Oxford Insurance Brokers, Ltd. (UK), James Hampden International Insurance Brokers Ltd., (UK), Antarah FZE (UAE), and Abraxas Insurance A.G. (Zurich, Liechtenstein).
U.S. Risk was ranked the 5th largest wholesaler by Business Insurance for 2016.
About Aspen Insurance Holdings Limited
Aspen provides insurance and reinsurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, France, Germany, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. For the year ended December 31, 2016, Aspen reported $12.1 billion in total assets, $5.3 billion in gross reserves, $3.6 billion in total shareholders’ equity and $3.1 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of “A” by Standard & Poor’s Financial Services LLC (“S&P”), an “A” (“Excellent”) by A.M. Best Company Inc. (“A.M. Best”) and an “A2” by Moody’s Investors Service, Inc. (“Moody’s”).
Aspen American Insurance Company writes property, casualty and specialty insurance in the United States on an admitted basis.