Skyward Specialty will provide support and additional capacity for eMaxx’s alternative energy warranty products for captives.
eMaxx’s warranty products support manufacturers, developers, and owners of renewable and energy-efficiency projects by providing captive solutions.
The partnership will provide captives with risk capital, engineering-based underwriting, and risk management to mitigate performance risk and improve 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,” said Kirby Hill, president industry solutions programmes and captives at Skyward Speciality.
“eMaxx’s solutions do just that and have a track record for strong historical loss performance.”
The alternative energy warranty products will be available in the United States and Canada.
Kevin Kaminski, senior vice president, underwriting at eMaxx, said that 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,” he said.