About Apex
Apex was developed in 2010 when the need arose to for a more efficient risk transfer model. Apex clients have access to non-traditional insurance coverage, have the ability to finance a majority of premiums, and experience a return of earned premium
Apex is underwritten by Nova Insurance Company and is Managed by Nova Insurance Company. Premium funding is provided by Einstein Capital.
Since Apex combines the best aspects of insurance, premium finance and alternative risk transfer with earned premium retention by the insured, Apex allows successful businesses to operate more efficiently. While many businesses either choose to self insure, or pay high premiums for non-traditional risk coverages, Apex clients have access to a multitude of custom coverage options and our clients retain a majority of underwriting profit.
The excess and surplus lines, or non-admitted, market is comprised of property and casualty companies providing insurance that is generally unavailable to businesses in the standard or admitted market due to the unique characteristics of particular risks.
Much of the business accepted by surplus lines insurers includes difficult and high capacity risks. For businesses unable to secure insurance from standard companies, the E&S market provides additional capacity and innovative underwriting.
Excess and Surplus lines are one method that companies are choosing to transfer alternative risks to other risk bearing entities, i.e., insurers. The largest classes of business within the total US E&S market are Other Liability (excluding General Liability) and Property holding 53% and 36% of the market share respectively.
What to Expect
The Apex Process
Business Process
Lender
Insurer
The Cayman Islands’ strong regulatory foundation, financial stability, and proximity to the U.S. & Latin American markets make it the ideal choice for your insurance strategy. one of the strongest and most respected jurisdictions in the world for insurance. Making The Cayman Islands’ strong regulatory foundation, financial stability, and proximity to the U.S. & Latin American markets make it the ideal choice for your insurance strategy.
Cayman Island | The Jurisdiction of Choice for the Excess and Surplus Market
Additional Information
Lines of Coverage
Apex lines of coverage are tailored to each insured. Typically insureds purchase revenue cover (loss of business) and expense reimbursement related to various events. As of today, areas of coverage that are popular are cyber risk and reputational risk. Please inquire about a no cost underwriting evaluation today.
Premium Loan
While not required to participate, most insureds take advantage of Einstein Capital's competitive premium loans at fixed rates. Typically loans require interest only payments. Loans up to 90% of premiums are available. The insurance policy is generally used as collateral.
Return of Premium Benefit
With good claims experience, earned premiums are returned to insureds. Up to 90% of gross premiums paid may be returned. Our theory is: it's your money, get it back if it's not used to pay claims.
Renewals
Each insured has the option to renew its coverage for an additional 12 month term. There is no premium commitment beyond the first year.