Everest Insurance® announces the launch of an auto buffer product for U.S. clients with well managed motor fleets of 250 - 1,000 units. The product will be offered through a limited network of appointed wholesale brokers specializing in the transportation market.
100 Everest Way
Warren NJ 07059, US
Head of Investor Relations
New York, NY (January 18, 2017) – Everest Insurance® announces the launch of an auto buffer product for U.S. clients with well managed motor fleets of 250 - 1,000 units. The product will be offered through a limited network of appointed wholesale brokers specializing in the transportation market.
Commenting on the launch of the new offering, Connie Germano, head of Specialty Casualty at Everest stated, “We are always looking for ways to deliver solutions to our trading partners to help fill unmet market needs. While we have written automobile liability coverage for many years it is important for us to add an auto buffer product to complement our expanding E&S offering. Everest Wholesale is excited to be able to launch this new product to meet those needs.”
Maria Duffy, head of E&S Casualty added, “This is a strategic addition for Everest which is designed to build on our strong relationships in the wholesale marketplace. This unit will offer up to a $5 million limit and will operate with a dedicated underwriting team. We intend to trade with identified specialist brokers in the domestic marketplace as we build our book of business.”
Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest Reinsurance Company (Ireland), Limited provides reinsurance to non-life insurers in Europe. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S. Everest Insurance® Company of Canada provides property and casualty insurance to policyholders in Canada. The Company also operates within the Lloyd's insurance market through Syndicate 2786. In addition, through Mt. Logan Re, Ltd., the Company manages segregated accounts, capitalized by the Company and third party investors, that provide reinsurance for property catastrophe risks. Additional information on Everest Re Group companies can be found at the Group’s web site at www.everestregroup.com.