Understanding Everen
What makes us different?
Everen is a mutual insurer: the company is owned exclusively by its policyholders and its sole purpose is to provide (re)insurance for those members at cost. This unique structure, combined with our financial strength, broad coverage, cornerstone capacity and predictable premiums, makes Everen a complementary alternative to the commercial market.
Our value proposition
Reliable
- Broad and stable terms & conditions
- Consistent promise to pay claims
- Excellent financial strength
- No reliance on external capital
Straightforward
- Simple annual renewal process
- Formulaic premium mechanism
- Minimal data, forms and engineering reports required
- Same policy form for all members
Transparent
- Transparent premium model
- Members have direct access to the decision making process
- Member portal provide access to loss and coverage information
Unique
- Single largest capacity
- Single all risk policy form
- Zero-sum premium model with a 3-5% expense ratio
- Access to world class peer companies
The benefits of Everen
Our policies and structure are purpose built for our members, with a consistent product that is proven to weather changes in the market. There isn’t another mutual like Everen – we are unique.
Our foundations are strong with A and A2 credit ratings backed by exceptional levels of capital and no reliance on third party capital or reinsurance. Membership is straightforward with a light touch approach to underwriting and one policy for all our members. Providing net capacity of $450 million FAI, Everen’s coverage can be tailored to fit your needs through a range of options.
