eMaxx, a tech-enabled specialty provider of commercial property and casualty insurance programs, now offers the ability to provide its alternative energy warranty products through a variable cost captive solution.
The suite of warranty programs provide support to manufacturers, developers and owners for renewable, alternative and energy efficiency projects by providing an insurance backed solution to product and performance shortfalls backstopped through XOL Quota Share Reinsurance.
The alternative energy warranty products provide a variable cost captive solution for project owners, developers, manufacturers and financiers to insure the performance of these projects and reduce credit exposure. Programs include Energy Savings Warranty (ESW), Solar Performance Warranty (SPW), Manufacturer’s Product Warranty (MPW) and Performance Warranty (PW). eMaxx offers this approach for businesses wanting to offer these warranties including a Vermont segregated cell captive, proprietary policy forms, captive management and reinsurance brokering.
“Environmental Social Governance (ESG), increasing energy costs and volatility are driving the implementation of alternative energy and energy efficiency projects,” Kevin Kaminski, Senior Vice President, Underwriting at eMaxx. “Our alternative energy warranty products facilitate financing by mitigating performance risk and improving the strength of manufacturer’s and contractor’s warranties.”
“We are excited about the opportunity to pioneer alternative energy products through a variable cost captive solution,” Nick Blaine, Vice President, USI Insurance Services. “Performance based warranty programs for alternative, renewable and energy efficiency projects have the ability to increase the project owners confidence that the project will yield the designed performance while reducing alignment between the warranty provider and reinsurers.”
eMaxx Assurance Group of Companies, Inc. is an InsurTech that has four operating companies. The companies include: eMaxx Insurance Services, LLC (Insurance Program Administrator), eCaptiv (Vermont- Domiciled Captive Insurance Company), eRisk Solutions, LLC (Loss Prevention / Safety, Claims Investigational & Oversight, and Litigation Management) and eTech Services, LLC (Loss Expense Reducing Technology Systems and Platforms including Telematics Exchange and eLive Connect).
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