Everest Launches Cyber Protection for Private Equity Firms, Portfolio Companies

May 10, 2017

Everest Insurance has collaborated with cybersecurity firm, Soteria, LLC, and its group of former U.S. government cyber security experts, in conjunction with the launch of its new Elevation Private Equity Insurance Policy.

The policy will provide assistance to policyholders in building safer and more secure internal networks. Soteria will offer three options alongside the Everest policyholder’s primary or excess General Partnership Liability policy. These include a network vulnerability scan, routine imposter domain monitoring, and a phishing tool designed to help mitigate the risks associated with the most common cyber threats.

The offering is also extended to Private Equity firms’ portfolio companies so Private Equity policyholders can ensure their portfolio companies are better protected from cyberattacks.

The Everest Insurance Alternative Solutions Group is a team of underwriters providing a coordinated approach to the insurance needs of private equity firms and portfolio companies. Such offerings include reps and warranty products, management liability, professional liability, employment practices and other ancillary insurance products for both the private equity sponsor and portfolio companies.

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest Reinsurance Company (Ireland), dac provides reinsurance to non-life insurers in Europe. Everest Insurance refers to the primary insurance operations of Everest Re Group, Ltd., and its affiliated companies which offer property, casualty and specialty lines insurance on both an admitted and non-admitted basis in the U.S. and internationally. The Company also operates within the Lloyd’s insurance market through Syndicate 2786. In addition, through Mt. Logan Re, Ltd., the Company manages segregated accounts, capitalized by the Company and third party investors that provide reinsurance for property catastrophe risks.

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