Skyward Specialty and eMaxx Expand Their Captives Partnership

Specialty property-casualty insurance provider Skyward Specialty Insurance Group, Inc., and eMaxx, a tech-enabled specialty provider of commercial property-casualty insurance captive solutions and programs, have expanded their captives' partnership.

Skyward Specialty will provide strategic support and additional capacity for eMaxx's variable alternative energy warranty products captive solutions.

The suite of warranty solutions offered by eMaxx supports 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 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," Kirby Hill, president of industry solutions programs and captives at Skyward Specialty, said in a statement. "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, at eMaxx. "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.