All Risk Physical Damage

The Everen policy is an “all risks” policy that provides coverage for physical damage to or loss of property owned by the Assured and non-owned property insured under the policy (subject to the terms, conditions and exclusions of the policy).

The basis of recovery is Replacement Cost Value (RCV) but if the property is not repaired or replaced, the recovery is on an Actual Cash Value (ACV) basis.

The PD coverage provided by Everen is very valuable to its members and is considered “one stop shopping”.

The $450 million block of capacity provides broad coverage for Energy related risks. These risks include, among others, cargo, construction, terrorism (including cyber terrorism) and windstorm.


Many members are involved in the transportation of cargo around the world and look to Everen for its cargo coverage.

Everen provides coverage (up to the maximum $450 million limit) for physical damage to or loss of cargo owned by the Assured and non-owned cargo that the Assured is contractually obligated to repair/replace.

Coverage also includes, property as well as general average, sue and labor, salvage and removal of debris (subject to the terms, conditions and exclusions of the policy).

Loss of cargo is valued at replacement cost of like kind/quality at the place/time of loss.


Many members are involved in onshore and offshore construction projects worth billions of dollars and rely on Everen’s construction cover to meet their insurance needs.

Coverage is available for up to the maximum $450 million limit with no separate premium charge.

Coverage is also automatically extended for projects that commence mid-year if the assets will form part of a member’s consolidated balance sheet.


With the global threat of terrorism facing our world today, many members rely on Everen’s broad terrorism cover (including Cyber Terrorism) to protect their assets.

Coverage is provided up to the maximum limit of $450 million (excess of applicable deductibles) with no separate premium charge.


Hurricanes pose a significant threat to our members, particularly if they have assets in the Gulf of Mexico (GOM) region.

Everen provides a $150 million part of $250 million windstorm limit for exposures in the Designated Named Windstorm (DNWS) region (regions include GOM, Eastern Seaboard, Caribbean and Trinidad & Tobago) subject to a per shareholder annual aggregate of two times the limit (i.e. $300 million).

Windstorm claims involving more than five Everen members from one occurrence will be subject to an Aggregation Limit of $750 million.

Members that have windstorm exposed assets in regions outside of the DNWS zone (e.g. South China Sea, North Sea, Australia) will be entitled to the maximum $450 million Limit and $1.35 billion Aggregation Limit.

However, once that region suffers a loss trigger event (i.e. $750 million single loss event or $1 billion of losses over five years), its limits will revert to the DNWS limits in the following year.