New York, New York – April 5, 2018 – Everest Specialty Underwriters (ESU), a division of Everest Insurance®, is pleased to announce its newest product offering with the launch of Everest’s Private Company Management Liability Policy (Everest Expedition℠). This new modular management and professional liability policy is designed to provide private companies with essential protection in the face of increasing corporate scrutiny.
Salvatore Collura, Head of Everest’s Private Company/Not-For-Profit business segment said, “The scope of risks facing a private company, and its management team, has significantly increased in the last few years. In light of this, companies are regularly seeking greater protection from their insurance providers. Growing cyber risks, increasing incidents of workplace violence, employee theft, and attacks against corporate leadership all reinforce the need for deeper coverage. Moreover, insurance claims are originating from a number of unanticipated sources including employees, customers, investors, vendors, creditors, and regulators.”
Everest Expedition℠ is designed to respond to these ever evolving risks. The Everest Expedition℠ policy offers eight lines of coverage; Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, Cyber Liability, Kidnap and Ransom, Miscellaneous Professional Liability and Employed Lawyers Liability. The new Everest Expedition℠ policy provides various unique coverages, coverage enhancements, and innovative Everest solutions available within the Expedition standard policy terms, such as:
- Optional duty to defend
- Pre-Claim Costs
- Expansive D&O and Fiduciary Inquiry Coverage
- Dedicated Social Engineering Fraud limit
- Reimbursement of up to 5% of policy premium for utilizing pre-breach service offerings
“Everest Expedition℠ is a comprehensive, yet streamlined, product that enables our broker partners to construct and implement an insurance program specifically tailored to the needs of private companies of all sizes and industries,” said Keith Lavigne, Head of Management and Professional Liability for ESU. “The combination of a robust product, backed by a highly skilled underwriting team and experienced claims group, reinforces Everest’s commitment to being a market leader in the private company space.”
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.everestre.com.