Ironshore's UK-based Pembroke Syndicate 4000 has launched a professional indemnity product to provide comprehensive coverage for the oil and gas industry worldwide.

Cover will be underwritten through Ironshore's International platform for global risks, as well as for US-domiciled entities.

The professional indemnity specialty insurance product offers coverage for professionals operating across the whole oil and gas industry spectrum, including offshore exploration and production as well as onshore refining, processing and support services.

The product can also include coverage for related high risk exposures, such as pollution, bodily injury and property damage, and consequential loss, subject to underwriting review.

Pembroke's resident expert geologist, Danny Clack, will lead the oil and gas initiative. Prior to joining Pembroke, Mr. Clack served for more than 10 years as an environmental consultant, specialising in oil refinery, oil terminals, and oil and gas processing plant projects worldwide.

"Recent oil spill disasters in the Gulf of Mexico and China's Yellow Sea have heightened awareness of the significant risk exposures surrounding such unexpected incidents, and the potential for significant loss within the oil & gas sector on a global basis," said Mark Wheeler, CEO of Ironshore International.

"Pembroke's recognised expertise in providing specialty professional indemnity insurance products allowed us to leverage this knowledge, thereby crafting a comprehensive coverage solution in response to the increased insurance risk within the highly specialist oil and gas industry."