Everest Re’s offshoot Everest Insurance has said it is expanding into the group personal accident and health insurance market with the launch of a new suite of group personal accident insurance products.
The products include K-12 Student Accident, Participant Accident, and Volunteer Accident, and have customised protection for schools, youth sports, associations, and volunteer organisations.
Ed Ramos, vice president of product development and management at Everest Accident and Health, said: “Organisations managing group activities, including sports, volunteering or after-school programs require financial protection and the ability to provide proper care for their members in the event of an accident.”
He added: “Everest’s expanded offerings now provide this cover to schools, youth sports, associations, and volunteer organisations who are in need. Building on more than 25 years of accident and health experience, Everest’s new suite of specialised group personal accident products brings a robust range of coverages and benefits not consistently available in the marketplace and provides peace of mind so participant groups can focus on their mission of education or giving back to their communities.”
Everest Insurance said that its K-12 Student Accident Insurance includes Basic Accident Insurance and Catastrophic Accident Insurance and provides schools and their students with benefits for covered injuries while school is in session and students are attending school-sponsored and supervised activities. Its Participant Accident Insurance provides coverage for unexpected injuries that occur while participating in activities such as amateur and youth sports groups, camps and clinics, and daycares. Volunteer Accident Insurance protects non-profits and charities by providing coverage for medical expenses incurred by injured volunteers.
The firm said its expanded accident and health offerings complement its existing broad portfolio of property, casualty, and specialty coverage. Everest’s comprehensive accident insurance protection enables participant groups to meet their duty of care commitment, with a first line of defense against a participant injury lawsuit, and ensures that if an injury occurs, participants have access to quality medical treatment without the associated financial burden often resulting from out-of-pocket medical costs.
Lou Monteagudo, senior vice president at Everest Accident and Health, said: “For nearly three decades, Everest has provided reinsurance capacity and support to the accident and health market, demonstrating our product expertise, financial strength, and creativity in providing solutions. Building on our deep expertise, we are now expanding our primary insurance solutions in the accident and health market, providing our valued distribution partners with a new carrier of choice to meet their client’s group personal accident insurance needs.”
