Everspan Partners With TheGuarantors to Improve Rental Accessibility and Affordability

NEW YORK--(BUSINESS WIRE)-- Everspan Group, Rated A- (Excellent) by AM Best, today announced it has launched a program partnership with TheGuarantors, a fintech company providing innovative insurance products and financial solutions for renters and landlords.

Everspan, a specialty program property and casualty insurer, will support TheGuarantors’ flagship Lease Guarantee and Security Deposit Replacement products. Lease Guarantee is a tech-enabled tenant default protection product allowing renters to qualify for the unit they want and Security Deposit Replacement acts as a direct and highly affordable substitute to a cash security deposit. In both cases, renters pay a small upfront or monthly fee and TheGuarantors insures the landlord for lost rent and/or damages.

Everspan policies will be offered nationally on an admitted basis through TheGuarantors’ established network of real estate partners.

Steve Dresner, Chief Underwriting Officer of Everspan Group, said, “We are proud to partner with TheGuarantors, a leading fintech firm whose products and platform are reshaping the real estate space. At Everspan, we believe insurance should be a force for good. TheGuarantors shares that value and puts it into practice through its innovative Lease Guarantee and Security Deposit Replacement products. We are excited to provide support to this exceptional team.”

“Everspan is a trusted name in insurance and we are thrilled to add them to our roster of A-rated carriers," said Julien Bonneville, CEO and founder of TheGuarantors. "Their risk capacity and operational excellence enable us to continue innovating and support our vision of providing best-in-class products to our renters and real estate partners."

About Everspan Group
Everspan Group is a specialty property and casualty insurance platform that 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 TheGuarantors
TheGuarantors is a technology company that improves affordability and accessibility for the 46 million American households that rent their homes. Through its platform and partnerships with multiple A-rated carrier partners, TheGuarantors offers a unique suite of insurance, qualification, and protection products to renters and landlords. The company ranks on the lists of The Inc. 5000, Forbes’ Best Startup Employers, and The Financial Times’ Fastest Growing Companies.

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Kate Smith

Director, Corporate Communications

212-208-3452

ksmith@ambac.com

Source: Everspan Group