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Everest Underwriting Partners, a unit of Bermuda-based Everest Re Group Ltd.’s Everest Insurance, said Wednesday that it is expanding its forest and logging program to include inland marine coverage.
The inland marine coverage rounds out the program’s other offerings, Everest said in a statement. The inland marine coverages include loggers broad form property damage, commercial auto and general liability for clients involved in logging, log hauling and chipping. The coverage will be available in all states except New York on an admitted basis.
A company spokesman said Everest is targeting equipment used in logging operations, such as chippers, saws, log loaders, feller bunchers, log skidders and log splitters.
Limit maximums are $2.5 million for one piece of equipment and $25 million for a schedule, the spokesman said in an email.
Victor O. Schinnerer & Co. is the underwriting manager for the program.
“Logging clients have been asking us for an inland marine solution to protect their equipment from fire, theft, rollovers and other hazards,” Steve Falecki, Sacramento, California-based vice president of Schinnerer’s forest and logging underwriting unit, said in the statement.
Everest Re Group Ltd. named Jonathan M. Zaffino president and CEO of its insurance unit on Friday.