Frequently Asked Questions

Fact Sheet


Excess Liability

Excess Liability Forms: Occurrence; Occurrence First Reported; Claims Made; Follow Form AEGIS

Maximum Limit:
USD 75,000,000 (Occurrence First Reported; Claims Made; Follow Form AEGIS)
USD 25,000,000 (Occurrence)

Direct and Facultative Property

Maximum Limit: USD 50,000,000

Assumed Reinsurance

Everen Specialty Ltd. Provides both facultative and treaty reinsurance coverage to ceding companies.

  • Excess of Loss
  • Aggregate Stop Loss
  • Quota Share
  • Industry Loss Warranty
  • Etc.
Shareholder and Policyholder Options

Only energy companies purchasing insurance from Everen Specialty Ltd. have the option of being a Shareholder. To be a Shareholder, an energy company must purchase one share for $5,000. In return Shareholders accumulate dissolution and voting rights in Everen Specialty Ltd.

Shareholders have no financial obligation beyond the premium charged for their individual risk.


Class 3B Bermuda Insurer

A.M. Best Rating: A- (Stable)

Foreign Currency Policies

Everen Specialty Ltd. has the ability to provide policies in GBP, CAN$, EURO, AUS$, US$


NOTE: Everen Specialty Ltd. is a licensed insurance company in Bermuda only. ESL policies are underwritten and bound in Bermuda. Any party wishing to inquire about insurance products offered by Everen Specialty Ltd. must contact Everen Specialty Ltd. through a broker outside the U.S. and Canada

Understanding the Difference Between Everen Specialty Ltd. and Everen

Everen Specialty Ltd.
Energy Company Shareholders
Energy Company Shareholders
Lines of Business
Excess Liability, Property, Assumed Reinsurance
Property Damage, Control of Well, 3rd Party Pollution
Property Insurance
Maximum Capacity $50 Million
Maximum Capacity $400 Million
Premium Calculation
Flexible; underwriter discretion
Formula driven
Event Aggregation limit*
Follow Form capacity
Ability to assess membership for losses
Insured required to be a Shareholder
  • Two separate and distinct companies
  • Separate Board of Directors
  • There are no financial guarantees or indemnifications between the two companies
  • Membership is mutually exclusive – do not have to be a Shareholder of one to join the other, however a percentage of Everen Specialty Ltd. members are also Everen members
  • Similarity – both companies are managed by the same management company, Everen Group

* Unlike Everen that has a single event aggregation limit, shared among its insureds, Everen Specialty Ltd. does not

Shareholder Information

Everen Specialty Ltd. is focused on the energy industry and offers energy insureds an opportunity to become a Shareholder in the Company.


Are invited, with qualified expenses reimbursed by the Company, to the General Meetings of the Company, thereby having a say in the future direction of the Company and joining peers in networking opportunities to enhance risk management and insurance buying decision making.

  • Are encouraged to serve on the Board of Directors of the Company
  • Accumulate voting rights (capped at 9.5%), based on premiums earned.
  • Vote on items presented at General Meetings of Shareholders
  • Qualify for a monetary distribution in the event of declared dividends or dissolution of the Company

To become a Shareholder, one must purchase a minimum of $25 million in limits, complete a Shareholder Application and Information Form (attached) and purchase one (1) share for US$5,000 (or the foreign currency equivalent).

If a Shareholder no longer purchases a policy or elects to terminate their shareholder status, the Company will refund the US$5,000 share price without interest. Although becoming a Shareholder is generally decided at the time of binding, an eligible policyholder can convert to a Shareholder at any time yet past premiums cannot be used in calculating voting and dissolution rights.

It is important to note that Everen Specialty Ltd. is a non-assessable mutual; Shareholders cannot be assessed for anything other than premiums.

Corporate Donations


Everen Group (and its associated companies Everen Limited and Everen Specialty Ltd.) is a major business enterprise with a significant, long-term stake in the community of Bermuda. The Companies are committed to maintaining Good Corporate Citizen status. To this end we wish to financially assist and facilitate programs that promote a better quality of life for all Bermuda residents. In addition, we encourage our employees to be active participants in volunteer programs in the local community.


Everen Group have established an annual Corporate Contributions budget which is distributed at the discretion of the Corporate Contributions Committee.

Decision-Making Process

The Committee meets three times per year. We spend the majority of our budget at the first meeting of the year, so you are encouraged to submit your request prior to March 31.

Requests may be submitted to: [email protected]. Please keep your request brief, if we require additional information, we will request it.

Key Areas of Support

Our primary areas of focus include:

  • Disadvantaged families
  • Youth programs that support healthy lifestyles
  • Environment and conservation initiatives
  • Broad reaching community projects


The Committee will consider requests from Bermuda-registered charities whose programs reach a broad segment of the local community. All requests must be received in writing. Requests in excess of $10,000 require supporting financial information relative to the organization and/or specific project.


Consideration will not be made to individuals, religious organizations, political groups, schools, individual sports clubs, PTA’s, travel and charitable intermediaries (for example, Lion’s Club).

Generally, contributions will not be considered for programs or projects that more appropriately should be funded as a matter of public policy.