Up to $450m for equity interest
This coverage includes an "all risks" policy that provides broad coverage for physical damage to or loss of property owned by the member and non owned property insured under the policy.
The basis of recovery is replacement cost value but if the property is not repaired or replaced the recovery is on actual cash value basis.
(with some exclusions)
Third party pollution liability coverage is provided for legal (including punitive damage) or contractual liability of members for personal/bodily injury, loss of or damage to property arising from a sudden & accidental seepage, pollution or contamination incident.
The Everen policy provides Control of well insurance up to the $450 million maximum limit with no separate premium charge.
This coverage includes coverage for sue and labour expenses. Removal of Debris, and the costs and expenses associated with Restoration & Redrilling.
With 50 years of claims handling experience, we've developed reputation for having one of the best energy insurance claims settlement process in the business. Our members rank their Everen claim handling experience superior to their commercial market experience 65% of the time and equal to their commercial market experience 35% of the time. None of our members rank their Everen experience below their commercial market experience.
Windstorm coverage is excluded in the Gulf of Mexico. Atlantic Named Windstorms outside of the GOM are subject to increased premium and subject to an Aggregation Limit. Please refer to the Shareholders Agreement for specifics on Windstorm Coverage related to Designated Named Windstorms.