eMaxx Broadens Access to Excess Variable Cost Captive Insurance Program through eMaxx Reciprocal Insurance Exchange

Enhancements to the Excess Captive Program provide qualifying businesses with broader access to competitively priced excess coverage and industry-leading risk management support

TAMPA, Fla.--(BUSINESS WIRE)--eMaxx today announced a significant expansion of its Excess Captive Insurance Program, powered by the eMaxx Reciprocal Insurance Exchange. The program will now be available to businesses participating in a Captive Insurance or Large Deductible structure for their underlying insurance, provided certain risk management standards have been implemented. The program is fronted by an A.M. Best A rated insurance company and offers $5 million in limits with a minimum attachment of $5 million, with the ability to provide higher limits through facultative reinsurance.

"Expanding eligibility for the Excess Captive Program allows more companies to benefit from the risk management standards we know reduce losses,” said Richard Metivier, Executive Vice President, Distribution at eMaxx. “By verifying that these measures are actually in place, we can offer qualifying members more competitive pricing while continuing to hold the program to a high standard."

Qualifying companies must have risk management technology on commercial vehicles capable of detecting distracted driving and other unsafe driving events, an active driver monitoring program, a progressive disciplinary program for unsafe driving behavior, and an ongoing driver training program. With eMaxx’s ability through technology to verify that these risk management measures are in place and to confirm that companies are taking meaningful steps to correct poor driver behavior, the Excess Captive Program is able to offer more competitive excess pricing to qualifying members.

"This partnership allows us to build a genuinely stronger excess product for our members and qualifying businesses," said Michael Windstein, Executive Vice President, Underwriting at eMaxx. "With flexible attachment points and the ability to layer in facultative reinsurance where needed, we can structure a program around what each company actually requires, rather than a one-size-fits-all tower."

Every Member is assigned a Loss Compliance representative that conducts an onsite evaluation of the company's operations. Members also receive eMaxx's exclusive Mongoose RM Quarterly Summary, a comprehensive gap analysis identifying areas of exposure, including areas that plaintiff attorneys commonly target using reptile theory tactics, so companies can proactively address them. In addition, the program includes key insights into the eMaxx Telematics Exchange, which provides visibility into vehicle utilization and operations, including whether vehicles operate in plaintiff-oriented jurisdictions, along with driver performance data such as speeding and other safety events; it also allows underwriters to review several months of telematics data on a prospective policyholder before binding coverage, giving them a clearer picture of actual driving behavior and risk.

About eMaxx

eMaxx is a specialty, tech-enabled Managing General Agent and Attorney-in-Fact providing commercial property and casualty insurance and reinsurance solutions through policyholder-owned alternative risk insurance programs. The Company delivers alternative risk solutions supported by technology and risk management services in response to structural changes in the traditional property and casualty insurance market. eMaxx Insurance Services, LLC produces commercial property and casualty insurance products as a retailer, wholesaler, program administrator, and Attorney-in-Fact. eTechnology Services, LLC provides underwriting, loss prevention, training, and telematics technology platforms. eRisk Solutions, LLC delivers claims management and oversight, litigation management, subrogation recovery, loss prevention and safety services, claims investigation, and environmental claims management. eCaptiv LLC is a licensed sponsored captive insurance company offering captive commercial property and casualty insurance programs. eMaxx Reciprocal Insurance Exchange is a commercial property and casualty reciprocal insurer owned by its policyholder Subscribers. More information can be found at: https://www.emaxxgroup.com.