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AMBAC FINANCIAL GROUP, INC.

(AMBC)
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Ambac Financial : Cover Whale Partners with Everspan on Commercial Trucking Program

09/20/2021 | 08:01am EDT

NEW YORK, Sept. 20, 2021 /PRNewswire/ -- Cover Whale Insurance Solutions, Inc., an Insurtech focused on the commercial auto space, announces its partnership with Everspan Indemnity Insurance Company ("Everspan"), an excess and surplus lines insurer which is part of Everspan Group, a participatory fronting insurance group Rated A- (Excellent) by AM Best, to offer a Commercial Trucking Program.

Cover Whale offers best-in-class underwriting and data tracking via its proprietary underwriting platform. The platform's powerful use goes beyond the underwriting stage and into the post-binding stage with automatic portfolio data tracking, allowing Cover Whale and its (re)insurance partners to have real-time monitoring, oversight, and reporting in an easy-to-use dashboard.

The Commercial Trucking Program will be written on Everspan's highly rated paper and targets professional owners of small trucking operations including common and contract carrier operations such as commercial truckers, common carriers, contract carriers, freight haulers and intermodal carriers.

Cover Whale CEO Dan Abrahamsen stated, "With continued evolution in the commercial automobile market in recent years there is a significant opportunity for specialist programs. We are excited about our partnership with Everspan as we continue growing our footprint within the commercial auto space."

Wyatt Blackburn, President of Everspan Group, stated "We were initially attracted to Cover Whale's tech-enabled platform for its use of emerging A.I. and underwriting data, which offers an opportunity to profitably underwrite commercial trucking at a strong competitive advantage." Mr. Blackburn continued, "Our partnership with Cover Whale is in alignment with Everspan's core business strategy to expand partner programs with best-in-class MGAs."

About Everspan Group
Everspan Group is a specialty property and casualty insurance platform comprised of Everspan Insurance Company, an admitted insurer and Everspan Indemnity Insurance Company, a surplus lines insurer. Everspan Group operates nationwide on an admitted and non-admitted basis. The companies which comprise the Everspan Group are wholly-owned subsidiaries of Ambac Financial Group, Inc. (NYSE:AMBC), a financial services holding company. For more information, please refer to www.everspangroup.com.

About Cover Whale
Cover Whale, an InsurTech founded by experienced insurance and technology veterans, focuses on underwriting, technology, and data to launch innovative insurance programs. Cover Whale provides the most agent-friendly platform online, providing a simple solution for fast insurance quotes. Products are available exclusively through CoverWhale.com, with capacity from multiple leading insurance markets.

Cover Whale Contact: 
Ian Abrahamsen, Marketing Director
Ian@coverwhale.com 

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/cover-whale-partners-with-everspan-on-commercial-trucking-program-301379921.html

SOURCE Cover Whale Insurance Solutions


© PRNewswire 2021
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