Everest Insurance unveils management liability cover for REITS

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.