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Please report all claims notifications to claims email address ([email protected])

Experience modification details can be found on the member portal. The purpose of experience modification is to reward those members that have good loss records and surcharge those members with poorer loss records.

Everen believes this will incentivize members to select appropriate limit and deductible options, that are consistent with their risk profiles and will also make Everen more attractive to prospects.

A Reserve Ratio is calculated for each shareholder (over a rolling 3 year period) and an Experience Modifier is applied to the premiums of those members with a Reserve Ratio in excess of 150%. The Experience Modifier is capped at a maximum surcharge of 25% (although the Board has the authority to increase it up to 50%).

A new member can elect to enter Everen on a brokered or direct (non-brokered) basis.

If a new member elects to use a broker, Everen pays 15% brokerage commission for the first year of membership and invoices the broker directly. For the second and subsequent years’ members have the option to annually elect to have their Everen entry either brokered or direct.

 If brokered is elected, the member advises the annual amount or percentage applicable for brokerage commission.  The invoice will display both the gross and net premium.


A member may elect to have a split policy issued for its subsidiaries or joint venture interests. To qualify, the subsidiary/joint venture must meet the following criteria: 
1. Be a separate legal entity with its own audited financial statements. 
2. Have a separate insurance program. 
3. Follow the Split Policy Guidelines 

A split policy will allow the member to tailor its coverage profile to meet the specific needs of the subsidiary/JV, however the per occurrence limit is still shared with the original policy, i.e. Everen will not pay out more than the maximum limit of $450M to any one member for a single occurrence loss. With respect to deductibles, a subsidiary/JV may have a different deductible from the Everen member, but only for assets not already declared as part of the Everen member’s entry.

To qualify for Everen membership, an energy company must have minimum gross assets of US $1 billion, and derive more than 50% of its gross annual revenues from energy operations, or have more than 50% of its gross assets devoted to energy operations.

Potential members must possess a minimum credit rating of either “BBB-” (S&P) or “Baa3” (Moody’s). Companies without external credit ratings can obtain a “shadow rating” or will be subject to financial analysis by Everen staff where they must pass 4 out of 6 ratio tests.  In addition, they may be required to post acceptable security.

The Lock-In Plan is Everen’s premium model that was implemented January 1, 2010. The formula used to determine premium is a function of the past 5 year’s losses (20% a year) and historical pool percentages.

A member’s final pool % in any given year is calculated using the Gross Assets reported as of December 31 from the prior year and is fixed. Annual premiums will take 5 years to fully reflect Weighted Gross Asset changes.

The Lock-In plan is designed to eliminate significant swings in premium and TWP, simplify the R&PP formula and reduce the periodic and unintended shifting of premium and TWP from one or more members to others.

Gross Assets should be emailed to the Underwriting team ([email protected]), using the Gross Asset Declaration found in Documents.

Everen members are required to submit annual Gross Assets Declarations as at year end of the previous year, which are due to Everen by June 30th of the current year. 

Gross assets are defined as Property Plant & Equipment (before depreciation) + Inventory (as per year end financial statements).

A member’s gross assets are used to determine their Everen premium.

Assuming the Everen member is the operator, has a controlling interest or is a non-operator JV participant in a given project, the member can seek approval to cover 100% (or an amount up to 100%) of the project (joint venture) under their Everen entry subject to guidelines.

Cover will only take effect upon declaration to Everen of the additional JV assets of the project to be insured and is subject to Underwriter approval.

If subsequently the Everen member relinquishes operator status or its controlling interest, cover for the JV partner automatically ceases at that time.

Spot TWP and provisional TWP can be found on the member portal. Click the aquamarine button in the top right navigation to learn more.

DNWS Assets should be emailed to the Underwriting team ([email protected]), using the DNWS Asset Declaration found in Documents.

In June of every year members must submit their Windstorm Declaration along with their normal Gross Asset Declaration.  Assets are separated by DNWS Offshore and DNWS Onshore regions.  Everen does not require an Auditor’s Report to accompany the Windstorm declaration however it must reflect a signature of an officer of the company.