eMaxx Expands Excess Captive Insurance Program to Optimize Risk Management
eMaxx has announced the expansion of its Excess Captive Insurance Program, facilitated by the eMaxx Reciprocal Insurance Exchange. This initiative targets businesses engaged in Captive Insurance or Large Deductible structures, contingent upon adherence to specific risk management standards. Supported by an A.M. Best-rated A insurance company, the program offers coverage limits up to $5 million, with a minimum attachment point of $5 million. Additional coverage is available through facultative reinsurance.
Richard Metivier, Executive Vice President of Distribution at eMaxx, stated, "Expanding eligibility for the Excess Captive Program allows more companies to benefit from the risk management standards we know reduce losses." This approach ensures that qualifying participants experience competitive pricing while maintaining high standards in risk management.
To qualify, companies must leverage risk management technology to detect distracted driving and other unsafe behaviors. Requirements include an active driver monitoring system, a structured disciplinary program, and ongoing driver training. eMaxx uses technology to verify these measures and assess efforts to address unsafe driving, thus enabling the program to offer competitive excess pricing.
Michael Windstein, Executive Vice President of Underwriting at eMaxx, commented, "This partnership allows us to build a genuinely stronger excess product for our members and qualifying businesses." The flexibility in attachment points and facultative reinsurance integration provides tailored coverage options to meet specific company needs.
Program participants benefit from the support of a Loss Compliance representative, who conducts onsite operational evaluations. eMaxx provides members with the exclusive Mongoose RM Quarterly Summary for comprehensive gap analysis, identifying exposure areas commonly targeted by plaintiff attorneys. The eMaxx Telematics Exchange delivers insights into fleet operations, including driver performance data and jurisdictional considerations, enabling underwriters to review extensive telematics data before finalizing policies.
eMaxx operates as a specialized Managing General Agent and Attorney-in-Fact, providing commercial property and casualty insurance and reinsurance through policyholder-owned alternative risk programs. The company incorporates technology and risk management solutions addressing shifts in the traditional insurance market. eMaxx Insurance Services, LLC manages commercial products, while eTechnology Services, LLC supports underwriting and telematics technology. eRisk Solutions, LLC offers claims management and safety services, and eCaptiv LLC functions as a licensed sponsored captive insurance company. The eMaxx Reciprocal Insurance Exchange is policyholder-owned. More details can be found at www.emaxxgroup.com.