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An Everest Re Group Ltd. unit has introduced a policy that provides management liability coverage for real estate investment trusts.
Everest Insurance, a unit of Hamilton, Bermuda-based Everest Re Group, said in the statement the new form has been designed to address directors and officers exposures specific to a REIT.
The form offers a streamlined structure and provides D&O terms similar to those offered in the Everest management liability policy released in April 2018, Everest said in a statement.
Everest said coverage features include formal entity investigation coverage, preclaim expense coverage and a broad definition of a controlled entity.
The statement said Everest’s financial lines group offers industry specific management liability insurance on a primary and excess basis.
A spokesman could not immediately be reached for comment on limits offered under the coverage.
Everest Specialty Underwriters, a unit of the Everest Re Group Ltd., on Thursday said it is introducing a private company management liability policy with eight lines of coverage, including directors and officers liability.