Everest Insurance has released its new Everest Elevation REIT Management Liability Policy (“Everest Elevation”), providing management liability coverage for real estate investment trusts (“REITs”).

In a statement, Everest said that it designed the new form to address directors and officers exposures specific to REITs. Coverage features include formal entity investigation coverage (separate from Reg FD coverage), pre-claim expense coverage, and a broad definition of controlled entity, Everest said.

“At Everest, with each product that we bring to market, we are committed to providing enhanced value to our customers,” said Charlie Higham, head of financial institutions at Everest. “Everest Elevation is an innovative product branded and tailored to respond to the unique structure and exposures of real estate investment trusts. This product will enable us to provide specialized service to our REIT clients and will serve to complement our proven track record and dedication to underwriting and claims excellence.”