Skyward Specialty and eMaxx Power Up Alternative Energy Warranty Products with an Expanded Captives Partnership
- The expansion of the captives partnership between Skyward Specialty Insurance Group and eMaxx will provide strategic support and additional capacity for eMaxx's alternative energy warranty products.
- The partnership will offer insurance-backed captives solutions to manufacturers, developers, and owners of renewable energy projects, mitigating performance risk and improving warranties.
- The recent regulations published by the IRS are increasing demand for alternative energy warranty products.
- None.
HOUSTON and PEABODY, Mass., Oct. 03, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) ("Skyward Specialty") a leader in the specialty property and casualty (P&C) market, and eMaxx, a tech-enabled specialty provider of commercial P&C insurance captive solutions and programs, announced the expansion of their captives partnership. Skyward Specialty will provide strategic support and additional capacity for eMaxx’s innovative variable Alternative Energy Warranty Products captive solutions.
eMaxx’s suite of warranty solutions support manufacturers, developers, and owners of renewable, alternative, and energy-efficiency projects by providing an insurance-backed captives solution covering product and performance shortfalls. The partnership will provide the captive participants with access to risk capital and best in class technical engineering-based underwriting and risk management to mitigate performance risk and improve the strength of manufacturer and contractor warranties.
“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,” said Kirby Hill, President Industry Solutions Programs and Captives. “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.”
“The recent regulations published by the Internal Revenue Service relating to the Inflation Reduction Act are increasing demand for Alternative Energy Warranty Products,” said Kevin Kaminski, Senior Vice President, Underwriting. “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.”
The Alternative Energy Warranty captive solutions will be available throughout the United States and Canada.
About Skyward Specialty
Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.
Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated “A- (Excellent)” with a positive outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.
About eMaxx
eMaxx Assurance Group of Companies, Inc. tech-enabled specialty provider of commercial property and casualty insurance programs that has four operating companies. The companies include: eMaxx Insurance Services, LLC (Insurance Program Administrator), eCaptiv (Vermont Domiciled Captive Insurance Company), eRisk Solutions, LLC (Loss Prevention / Safety, Claims Investigational & Oversight, and Litigation Management) and eTech Services, LLC (Loss Expense Reducing Technology Systems and Platforms including Telematics Exchange and eLive Connect). More information can be found at: https://www.emaxxgroup.com.
Contacts
Ryan Burke
Vice President, Programs, Skyward Specialty
rburke@skywardinsurance.com
Business Development
Kevin Kaminski
Sr. Vice President, Underwriting, eMaxx
kkaminiski@emaxxgoup.com
978-531-1822 x 304
Media
Megan McCarthy
Vice President, Strategic Relations, eMaxx
mpmccarthy@emaxxgroup.com
978-531-1822 x 360
Haley Doughty
Communications Director, Skyward Specialty
hdoughty@skywardinsurance.com
713-935-4944
