Everest Insurance Launches EverBuild to Address Modern Construction Risks

What's Happening?

Everest Insurance has introduced EverBuild, an enhanced Builder’s Risk coverage form designed to address the evolving risks in the construction industry. The new coverage form includes expanded terms and conditions and new coverage extensions, such as a data center endorsement, which is an industry-first for multi-phase data center construction projects. Everest Insurance aims to provide clarity, flexibility, and resilience to support clients in navigating today's complex construction landscape. The launch reflects the company's commitment to offering tailored solutions that evolve with the needs of the construction industry.

Why It's Important?

The introduction of EverBuild by Everest Insurance highlights the growing need for specialized insurance products that cater to the unique challenges of modern construction projects. As construction projects become more complex, with increased technological integration and multi-phase developments, traditional insurance coverage may not adequately address emerging risks. EverBuild's focus on data center construction projects is particularly significant, given the increasing demand for data infrastructure. This development underscores the importance of innovation in the insurance industry to meet the changing needs of clients and support the growth of the construction sector.

What's Next?

Everest Insurance will continue to work with clients and brokers to refine and expand its coverage offerings, ensuring they remain relevant and effective in addressing construction risks. The company may explore additional endorsements and coverage extensions to further support the industry. The launch of EverBuild could prompt other insurance providers to develop similar products, leading to increased competition and innovation in the construction insurance market.