Aegis Energy, Everspan Group partner on new excess insurance program

Aegis Energy, a division of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Everspan Group to launch a new excess program for petroleum gasoline haulers that also distribute propane.

This excess program is designed to meet the needs of retail and wholesale petroleum gasoline haulers engaged in petroleum and propane product distribution. Offering up to $4 million in excess coverage, the program is available nationwide, except for Massachusetts, Hawaii and Alaska.

“We are excited to launch this new excess program in partnership with Everspan Group, a leader in the insurance sector,” says Doug Strange, president of Aegis Energy. “This collaboration represents a significant step forward for Aegis Energy, as it allows us to provide enhanced risk management solutions for petroleum and propane distributors. Everspan’s strong market presence and commitment to excellence align perfectly with our mission to deliver exceptional coverage and service to our clients across the U.S.”

This non-admitted product provides enhanced flexibility for retail agents, enabling them to effectively address the unique risks faced by their petroleum industry clients, according to the companies.

“At Everspan, we seek partners who have unparalleled expertise and who share our commitment to underwriting excellence,” says Darwin Lucas, chief underwriting and reinsurance officer at Everspan. “Aegis Energy fits that bill. Doug and his team are top-notch underwriters, and their laser focus on downstream petroleum product distribution uniquely positions them to create innovative insurance solutions for their sector. This excess program is an example of that, and we are thrilled to partner with them on it.”

Aegis Energy specializes in providing insurance and risk management solutions tailored for the downstream petroleum product distribution sector. With a primary focus on enterprises involved in the wholesale and retail sale of petroleum and propane, including common carriers, Aegis Energy also offers ancillary solutions for rural retail home heating oil distribution, as well as the hauling of bulk oil, used oil, crude oil and salt water.

Everspan Group is a specialty property and casualty insurance platform that operates nationwide on an admitted and non-admitted basis. The companies that comprise the Everspan Group are wholly owned subsidiaries of Ambac Financial Group Inc., an insurance holding company.

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