Everest Insurance expands contingency business
Everest Insurance, a subsidiary of Everest Re Group, has expanded its global contingency business under one consolidated framework in order to deliver seamless solutions to its customers.
Everest Insurance has been a player in the contingency space through its Specialty Insurance Group (SIG) since 2013, offering a variety of solutions for event cancellation, non‐appearance, and several other customised contingency insurance coverages.
Effective immediately, Everest Insurance is expanding and coordinating this underwriting expertise across its global footprint. “By pulling together our various platforms under one umbrella Everest can expedite and efficiently deploy our capital and underwriting expertise to structure innovative solutions for our clients,” said Lowery Robinson, vice president of Everest Contingency. “We will now operate with a single face to the market, with industry leading capacity coupled with deep expertise, and a unique and wide‐ranging set of proprietary analytic tools.”
“With Everest’s strong balance sheet, broad geographic reach, solution oriented underwriters, and significant capacity ‐ as high as $100 million ‐ we are well positioned to support our clients’ needs regardless of size, complexity, or geography,” commented Mike Karmilowicz, head of the Everest Specialty Underwriters unit of Everest Insurance. “The alignment that we are announcing today is yet another example in our growing roster of industry‐specific solutions, solidifying our position as a global leader in this complex, specialty area. The recent launch of our Everlink special event portal in the United States is just one example of the continued innovation you should expect to see from Everest.”
Paul Kneafsey, active underwriter, Everest Syndicate 2786 further commented: “We look forward to furthering our collaboration with our Everest colleagues across the globe to bring our differentiated capacity and capabilities where they are needed most. The contingency market remains an attractive growth area for Everest. Our presence at Lloyd’s, a critical distribution hub for contingency business, will enable our continued success in this area”.
