eMaxx Launches Reciprocal Insurance Exchange for Enhanced Risk Management

eMaxx Launches eMaxx Reciprocal Insurance Exchange in Arkansas

eMaxx, a specialty managing general agent, has launched the eMaxx Reciprocal Insurance Exchange in Arkansas. This innovative exchange, owned by its policyholder subscribers, offers comprehensive commercial property and casualty insurance solutions, functioning both as a reinsurer and insurer. This initiative marks a significant step in expanding their alternative risk platform by aligning policyholders as both subscribers and owners, thus enhancing success in regulatory compliance and disciplined underwriting.

The reciprocal insurance exchange is integrated with eCaptiv, a sponsored captive insurance company powered by protected cell structures. Operating as a mutual benefit corporation, eCaptiv ensures subscribers automatically participate in the reciprocal insurance exchange. eMaxx Insurance Services, an independent attorney-in-fact (AIF), administers this structure, which emphasizes compliance with loss prevention and safety protocols. These include the implementation of cloud-based dash cameras, telematics, and quarterly training, reinforcing robust risk management practices.

Brian McCarthy, CEO and President of eMaxx Assurance Group of Companies, emphasized the importance of this endeavor in addressing industry challenges such as social inflation and rising loss costs. Michael Penza, president of Samuel Coraluzzo and chairman of the subscribers’ advisory committee, highlighted the structure's role in promoting governance and accountability among members. The eMaxx Reciprocal Insurance Exchange is poised to offer a disciplined insurance model that aligns with long-term industry commitments and shared responsibility, supporting regulatory compliance requirements and successful claims management.