Aegis Energy, a division of Aegis General Insurance Agency and K2 Insurance Services, has joined forces with Everspan Group to launch an excess programme for petroleum gasoline haulers in the US. 

The programme, now available nationwide except for Massachusetts, Hawaii and Alaska, provides up to $4m in excess coverage.  

This non-admitted insurance product is designed to offer retail agents the capacity to address the risks associated with petroleum and propane product distribution. 

Specialising in the downstream petroleum product distribution sector, Aegis Energy provides insurance and risk management solutions for entities involved in the wholesale and retail sale of petroleum and propane, including common carriers.  

Everspan chief underwriting and reinsurance officer Darwin Lucas added: “At Everspan, we seek partners who have unparalleled expertise and who share our commitment to underwriting excellence. 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.” 

Aegis Energy’s uses its underwriting and risk engineering expertise to deliver innovative solutions that meet the unique requirements of its clients. 

Aegis Energy president Doug Strange stated: “We are excited to launch this new Excess programme in partnership with Everspan Group, a leader in the insurance sector. 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 US.” 

Earlier in the year, Aegis Energy secured a financial commitment of £100m ($135.02m) from Quinbrook Infrastructure Partners, a global investment manager with a focus on infrastructure.  

These funds are allocated for the development of multi-energy refuelling stations for commercial vehicles in the UK.