Specialist managing general agent (MGA) Banyan Risk has launched a new US Inland Marine & Marine Property product, with capacity provided by program partner Accredited Insurance Limited.
The new line targets four core segments: Construction & Infrastructure (contractors’ equipment, builders’ risk, installation floater, riggers), Logistics, Transportation, Transit & Shipping (motor truck cargo, trip transit, owners’ cargo), Mobile Property & Specialty Floaters, and Inland Marine Supporting Property.
Available immediately, this coverage will be offered across all 50 US states and territories on an admitted and non-admitted basis.
“With nearly $35 billion in premium volume in 2024, the US Inland Marine market plays a pivotal role in keeping the supply chain moving,” said Tim Usher‑Jones, co‑Chief Executive Officer (CEO) of Banyan Risk. “This move into Inland Marine and Marine Property is the next step in the expansion of Banyan into new lines of business.”
The launch follows the introduction of Banyan’s Digital Assets & Emerging Risks product and healthcare professional liability product line earlier this year, and represents a further expansion of the company’s multi-line specialty platform.
Darren Hamman has been named Chief Underwriting Officer (CUO), Property & Inland Marine, and will be responsible for leading the development of Banyan’s Property & Inland Marine portfolio and managing a team of dedicated underwriters handling both new and renewal business.
Usher-Jones added: “Darren has an enviable reputation, track record, and deep sector knowledge, and we are delighted he will lead our new Inland Marine and Marine Property offering.”
Hamman brings nearly two decades of experience designing underwriting strategies for marine and transportation lines across the UK and US.
Before his appointment at Banyan Risk, he served as Inland Marine Product Line Leader at Markel. He has also previously held underwriting positions at Chubb Insurance and CNA Insurance, focusing on partnership development, underwriting governance, and data-driven product evolution.
“We’re seeing huge momentum in infrastructure and logistics development across the US,” said Mr Hamman. “The assets tied to these projects are valuable and complex, meaning brokers are looking for partners who understand the nuances of the risks involved. With the support of Accredited, we are bringing exactly that kind of consistent, expert underwriting to the market and I am excited to lead this new offering.”
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