Everest Insurance, part of Bermuda-based Everest Re Group, has announced the launch of a new commercial property insurance product – Middle Market Property.
This new product offering from Everest is designed to serve the unique and unmet needs of middle market customers.
The launch of Middle Market Property will position Everest to meet the growing middle market demand for tailored risk management programs that match the size and scale of their operations.
This launch is also the latest in a series of strategic steps that deepen Everest’s segment expertise with distinct, specialised products and services.
In addition, Everest’s new Middle Market Property product will be written on the flexible Everest Pinnacle™ Property form, enabling U.S. clients across real estate, healthcare, technology, manufacturing, hospitality and financial services among others, to place their entire property coverage with a single carrier, as well as offering coverage of up to $350 million in capacity provided by Everest.
Global Head of Property for Everest Insurance, Erik Nikodem, commented: “Middle market companies are responsible for approximately one-third of private sector GDP in the United States and deserve better than a ‘one size fits all’ approach.
“Everest’s new Middle Market Property product fills a void for midsized companies and delivers the simplified experience and direct relationship they need in today’s complex environment. Our bespoke, single-carrier coverage solutions give clients in industries like healthcare, education and technology more certainty and resilience to help them grow.”
Furthermore, as part of the company’s strategic investment in the Middle Market, Everest has also announced that Ross Kerr will lead as Head of Middle Market Property, where he will report directly to Erik Nikodem.
Within this role, Kerr will focus on building upon the organisations deep domain expertise, and further simplifying the experience to meet the nuanced, evolving needs of midsized companies.
Kerr joined Everest’s property team in December 2021 after spending 12 years in commercial property insurance serving at major company’s such as, Arch Insurance Group, Swiss Re, Berkshire Hathaway, and RT Specialty.
With his experience within the industry, Kerr is uniquely suited to bring the necessary innovation and collaboration needed to meet the evolving needs of middle market customers.