Skyward Specialty Insurance Group, Inc., a leader in the specialty P&C market, and eMaxx, a tech-enabled specialty provider of commercial P&C insurance captive solutions and programs, have announced the expansion of their captives partnership.
According to the announcement, Skyward Specialty is set to provide strategic support and additional capacity for eMaxx’s innovative variable Alternative Energy Warranty Products captive solutions.
The company’s suite of warranty solutions support manufacturers, developers, and owners of renewable, alternative, and energy-efficiency projects by providing an insurance-backed captives solution that covers both product and performance shortfalls.
This expanded partnership will also provide the captive participants with access to risk capital and best in class technical engineering-based underwriting and risk management to mitigate performance risk, as well as improve the strength of manufacturer and contractor warranties.
It has also been confirmed that the Alternative Energy Warranty captive solutions will be available throughout the US and Canada.
Kirby Hill, President Industry Solutions Programs and Captives, said: “If the transition to a greener economy is going to be successful, the market needs superior risk management opportunities to protect the businesses driving the transition forward. eMaxx’s solutions do just that and have a track record for strong historical loss performance.
“We are thrilled to be in a position to expand our alternative energy portfolio and provide the confidence and protection companies need to innovate and develop the rapidly evolving renewable energy landscape.”
Kevin Kaminski, Senior Vice President, Underwriting, commented: “The recent regulations published by the Internal Revenue Service relating to the Inflation Reduction Act are increasing demand for Alternative Energy Warranty Products.
“The strategic relationship we have with Skyward Specialty Insurance, the financial strength and capacity they provide, combined with eMaxx’s deep expertise and underwriting experience for securing projects performance will further increase and accelerate investors and project owners’ confidence to undertake alternative and renewable energy projects.”
