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Member, Beacon International Group, Ltd.
Everest Insurance, a division of Everest Re Group Ltd., on Monday said it has launched a multinational insurance group.
The group will provide property, casualty, business travel accident, and kidnap ransom-extortion insurance products and services, Everest Insurance said in a statement.
The group’s underwriters are currently based in New York City, Los Angeles, and Liberty Corner, New Jersey
The products and services are intended to cover the insured’s operations outside the U.S. and will be delivered either by a global extension or controlled master programs, via Everest’s brokerage network.
An Everest spokesman said in an email the product offering was a response “to the unmet needs of our broker trading partners.”
“Our brokers identified a need for additional markets to be able to provide coverage for their client’s operations outside of the United States,” the spokesman said. “The ability to do so with a single point of contact for underwriting, with coordinated worldwide coverage for general liability exposures related to products and premises, makes the process much simpler and more efficient for both our brokers and insureds.”
Doug Guenther, Liberty Corner, New Jersey-based, who joined Everest from ACE last July, will head the new group.
“The Everest Insurance Multinational global coverage extension can be attached to an Everest casualty domestic (U.S.) policy,” Mr. Guenther said in a statement, “with one point of contact for underwriting, while providing coordinated worldwide coverage for general liability exposures related to products and premises. We’re also very excited to be able to offer clients a controlled master program package policy option with locally admitted policies in over 160 countries.”
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