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Everest Insurance, a unit of Hamilton, Bermuda-based Everest Re Group Ltd., said Wednesday it is offering an auto buffer product of up to $5 million for U.S. clients with well-managed motor fleets of 250-1,000 units.
The product will be offered through a limited network of appointed wholesale brokers that specialize in the transportation network, the insurer said in a statement.
Maria Duffy, head of excess and specialty casualty for Everest Insurance, said in the statement the unit will operate with a dedicated underwriting team.
“This is a strategic addition for Everest which is designed to build on our strong relationships in the wholesale marketplace,” she said.
Aon Global Risk Consulting is collaborating with Dutch research agency TNO to launch a loss estimating tool for oil, gas and petrochemical clients.