Aegis Energy and Everspan Group Announce Strategic Partnership to Launch New Excess Insurance Program for Petroleum Gasoline Haulers
In a significant development for the energy and insurance sectors, Aegis Energy, a division of Aegis General Insurance Agency and a key component of K2 Insurance Services, has announced a strategic partnership with Everspan Group, a carrier rated A- (Excellent) by AM Best, to introduce a new Excess insurance program tailored specifically for Petroleum Gasoline Haulers. This new initiative represents a vital step toward addressing the complex and often underserved risk management needs of retail and wholesale fuel transporters in the United States.
The newly launched program is designed to provide up to $4 million in excess liability coverage and is available across the U.S., with the exception of Massachusetts, Hawaii, and Alaska. Built as a non-admitted product, the program offers enhanced underwriting flexibility—particularly for retail agents—to develop risk solutions for clients engaged in the transportation and distribution of petroleum and propane products.
Understanding the Excess Program
The term “excess insurance” refers to a type of coverage that sits atop primary insurance policies, providing additional protection once the underlying limits are exhausted. In high-risk industries like fuel transportation—where accidents, spills, environmental liabilities, and litigation exposure are ever-present—such protection is not just beneficial but essential.
What sets this program apart is its focused design. It targets a very specific industry segment: Petroleum Gasoline Haulers, a niche that historically faces challenges when seeking comprehensive and affordable coverage options. These businesses transport volatile and environmentally sensitive materials, subjecting them to elevated scrutiny, stringent compliance standards, and evolving legal requirements. Thus, their insurance needs are significantly more complex than those in other logistics or transportation sectors.
With this backdrop, Aegis Energy and Everspan Group saw an opportunity to deliver a specialized solution—one that not only fills a critical market gap but also improves the ease of doing business for insurance agents and fuel haulers alike.
Aegis Energy’s Perspective
Doug Strange, President of Aegis Energy, emphasized the importance of the partnership during the announcement. “We are excited to launch this new Excess program in partnership with Everspan Group, a leader in the insurance sector,” Strange said. “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.”
Strange went on to highlight how the partnership aligns with Aegis Energy’s core mission. “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 U.S.”
The creation of this new program builds on Aegis Energy’s strong track record in developing tailored insurance products for energy-related businesses. As a division of K2 Insurance Services, Aegis has access to an extensive network of underwriting, compliance, and regulatory resources, allowing it to innovate quickly and responsibly in response to emerging risks.
Everspan Group’s Perspective
For Everspan Group, the new collaboration marks another step in its ongoing effort to align with top-tier managing general agents (MGAs) who bring deep industry knowledge and a commitment to underwriting discipline.
“At Everspan, we seek partners who have unparalleled expertise and who share our commitment to underwriting excellence,” said Darwin Lucas, Chief Underwriting and Reinsurance Officer at Everspan. “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.”
Lucas emphasized that this new Excess program is “an example of that, and we are thrilled to partner with them on it.”
Industry Impact and Strategic Importance
The petroleum hauling industry operates within a high-risk and highly regulated environment. Businesses in this space must navigate not only the physical hazards of transporting flammable liquids but also the legal and financial liabilities associated with potential spills, accidents, and environmental damage.
In recent years, the industry has also faced added pressure from rising insurance premiums, limited market capacity, and an increasing number of claims involving large settlements. These dynamics have led to gaps in coverage and difficulty accessing adequate limits at sustainable pricing.
The Aegis-Everspan program seeks to directly address these challenges by offering:
- Up to $4 million in excess coverage, available on a nationwide basis (excluding a few states).
- A non-admitted format, allowing underwriters to tailor policies without being restricted by state-specific filed forms and rates.
- A strategic focus on petroleum and propane haulers, offering underwriting that takes into account the operational realities of the sector.
- Efficient access for agents, enabling faster quoting and binding through streamlined processes.
For retail agents, this program represents a valuable new tool in their arsenal—allowing them to serve clients more effectively and to differentiate themselves in a crowded marketplace.
Supporting a Growing and Evolving Sector
Despite increasing regulatory oversight and environmental concerns, the petroleum transportation industry remains an essential part of the American energy supply chain. Every day, thousands of haulers transport gasoline, diesel, propane, and other fuels from refineries and terminals to gas stations, homes, and businesses across the country.
As the energy landscape evolves—with the integration of renewable fuels, electric vehicle infrastructure, and enhanced sustainability standards—the companies operating in this space are expected to adapt and modernize. However, the need for robust insurance solutions will remain constant.
This new Excess program is positioned to support that evolution, giving haulers confidence that their liabilities are adequately protected, and offering agents a forward-thinking partner in risk management.
