The Everen Product
Everen’s all-risk policy delivers broad coverage—including assets in operation, under construction, cyber (including cyber terrorism), cargo, and natural catastrophes—with sublimits applying only to Designated Named Windstorms in parts of North America and the Caribbean.
01.
Physical Damage
02.
Operators Extra Expense (OEE)
03.
Third Party Pollution Liability
Coverage limits:
$300M USD — $450M USD
You can also purchase as little as 60%, providing a minimum limit of USD 180M.
Business sectors
Everen uses business sectors for coverage and pricing purposes. Each business sector is weighted based on Everen’s loss experience over the past 20 years, ensuring premiums are distributed fairly across different energy industries. Sectors with higher loss experience are assigned higher premium factors, while those with lower or no losses receive lower factors.
Onshore E&P
Offshore E&P
R&M / Chemicals
Pipelines
Electric Utilities
Offshore Wind
Onshore Wind
On/offshore carbon capture & storage
Electrical storage
Hydrogen
Mining
Pharmaceuticals
Biofuels & biochemicals
Solar
Other
Our Premium Model
Everen’s formula based premium model means that annual insured losses are pooled across all members with repayment spread over 5 years, reducing volatility and creating more stable, predictable premiums.
This multi-year loss repayment aligns with Everen’s long-term strategic partnership with our membership. Combined with our low expense ratio, this ensures a simple, transparent, and cost-effective insurance solution.
Considering Membership?
To maintain the strength and reliability of our mutual, Everen requires prospective members to meet specific qualitative and quantitative criteria.
50%
At least 50% of gross assets or annual revenue must come from energy operations.
$1B
A minimum of USD 1 billion in gross balance sheet assets.
BBB-Baa3
A credit rating of BBB- (S&P) or Baa3 (Moody’s) or better.
Qualitative Criteria
Including underwriting review
U.S. and Canadian companies must apply through a recognized third-party broker or a captive.
Please contact our business development team for more information on how to join Everen.
