eMaxx, a specialty managing general agent (MGA) and attorney-in-fact providing policyholder-owned alternative risk insurance solutions, has announced the launch of the eMaxx Reciprocal Insurance Exchange, a commercial property and casualty (P&C) re/insurer.
The Reciprocal, an Arkansas-based entity owned by its policyholder subscribers, will offer commercial property and casualty (P&C) insurance solutions, providing support to eCaptiv, eMaxx’s sponsored captive insurance company, which is organised as a mutual benefit corporation with protected cell structures.
“The launch of the eMaxx Reciprocal Insurance Exchange marks an important step in expanding our alternative risk platform,” said Brian McCarthy, CEO and President of eMaxx Assurance Group of Companies, Inc. “By aligning policyholders as Subscribers and Owners, the Reciprocal supports disciplined underwriting, strong governance, and a variable cost insurance model designed to address social inflation and rising loss costs.”
Participation in the eCaptiv program results in each Member also becoming a Subscriber of the Reciprocal Insurance Exchange.
Day-to-day operations of the Reciprocal are administered by an independent Attorney-in-Fact (AIF).
“The eMaxx Reciprocal Insurance Exchange represents the next step forward for Members committed to strong governance, accountability, and loss prevention,” said Michael Penza, President, Samuel Coraluzzo and Chairman, Subscribers’ Advisory Committee, eMaxx Reciprocal Insurance Exchange. “It provides a disciplined structure that aligns long-term participation with shared responsibility.”
According to the announcement, to participate in the Reciprocal, subscribers and members must adhere to defined loss prevention and safety protocols as a condition of participation in the program.
These requirements include the use of telematics, dash cameras, and driver behaviour technology including cloud-based inward-facing cameras and/or cell phone blocking; participation in monitoring programs and quarterly mandatory training; ongoing motor vehicle record monitoring; maintenance of written progressive disciplinary policies; and consent to share telematics and safety event data through approved technology platforms.
Additionally, members must attend the Risk Management Summit, implement return-to-work programs, and provide timely claim notifications.
eMaxx Insurance Services, LLC serves as the Attorney-in-Fact for the Reciprocal Insurance Exchange and acts as the sponsor of eCaptiv, an Arkansas-domiciled captive reinsurance company organized to provide protected cell reinsurance support.
