Banyan Risk, a specialty managing general agent, has launched an American marine product line.

The new offering targets four core segments: construction and infrastructure such as contractor’s equipment, logistics, transportation, transit and shipping such as motor truck cargo, mobile property and specialty floaters and inland marine supporting property.

“Coverage is available immediately and will be offered across all 50 US states and territories on an admitted and non-admitted basis,” Banyan Risk said.

Tim Usher-Jones, co-chief executive at Banyan Risk said with nearly $35 billion in premium volume in 2024, the United States inland marine market plays a pivotal role in keeping the supply chain moving.

“This move into inland marine and marine property is the next step in the expansion of Banyan Risk into new lines of business,” he said.

The launch follows the introduction of Banyan Risk’s digital assets and emerging risks product and healthcare professional liability product line, earlier this year. It represents a further expansion of the company’s multi-line specialty platform.

Darren Hamman will be chief underwriting officer, property and inland marine. He will be responsible for leading the development of Banyan Risk’s property and inland marine portfolio and managing a team of dedicated underwriters handling both new and renewal business.

Mr Usher-Jones said: “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.”

Prior to joining Banyan, Mr Hamman served as inland marine product line leader at Markel.

His background also includes underwriting roles for CNA Insurance and Chubb Insurance, where he led partnership development, with a focus on 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.”

Accredited is a leading programme manager operating across the US, United Kingdom and Europe.