NEW YORK, New York – August 30, 2017 – Everest Re Group, Ltd. (NYSE: RE) announced today that Everest Insurance® has expanded their Construction Builders Risk offering with the launch of a suite of new Builders Risk policy forms. These forms offer commercial builders risk coverage products targeting project specific builders risk, master builders risk, specified perils, and excess of loss. All new offerings include distinctively designed policy forms aimed at all segments of the construction marketplace.
Tom Warner, Vice President and Builders Risk Construction leader at Everest Insurance® commented, "We are excited to officially launch this new coverage series designed specifically for the builders risk marketplace. We are always looking for ways to deliver differentiated solutions to our trading partners to help serve the unique needs of the construction industry. We are especially thankful for the timely and thoughtful input given to us during the form review process by our valued trading partners. This policy form series will offer unique value for our brokers and insureds as they provide a distinctively crafted approach to these four subsets of the builders risk marketplace."
Erik Nikodem, Head of Property and Inland Marine at Everest Insurance® added, "Our goal is to be the carrier of choice for our trading partners and insureds. To achieve it, we are always looking for innovative solutions. Tom and the team have invested a lot of time and energy focusing on, and listening to, the needs of our brokers and insureds,. We are pleased to offer this new policy series in response to the market’s unmet needs."
The new Everest offering includes capacity up to $250 million in limits offered on both an admitted and non-admitted basis depending on geographical jurisdiction.
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), dac, provides reinsurance to non-life insurers in Europe. Everest Insurance® refers to the primary insurance operations of Everest Re Group, Ltd., and its affiliated companies which offer property, casualty and specialty lines insurance on both an admitted and non-admitted basis in the U.S. and internationally. 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