PEABODY, Mass.–(BUSINESS WIRE)–Energi has successfully launched its second group captive for the energy industry. The Vermont-domiciled eCaptiv PC2-IC captive program is geared towards energy companies with less than $250,000 in primary casualty premiums. Energi’s two group captive programs now have over 40 members and over $18M in gross written premium.
“The eCaptiv programs allow Members to exit the traditional insurance market,” said Richard Metivier, Senior Vice President of Sales and Distribution. “Members have the ability to establish their own insurance company similar to many Fortune 500 companies.”
The PC1-IC and PC2-IC programs are for energy companies within fuel distribution, energy transportation, energy construction, renewable energy, agricultural cooperative, and utilities segments. The programs offer up to $5 million in limits for General Liability and Commercial Automobile and statutory limits for Workers Compensation.
“As a middle market company in the energy industry, we were seeking alternative insurance solutions to combat the current trends that are impacting our business today,” Paul Wendt, President of Ken Wendt’s Propane Gas Service, Inc. “The eCaptiv programs provide us with the opportunity to control our own destiny with other like-minded businesses like our company.”
All Members have adopted risk management technology programs such as dash cameras, telematics and online training that are key elements in combating nuclear punitive damage judgments and commercial auto trends. Energi’s sister company, eTech Services’ Telematics Exchange and eLive Connect are used to aggregate telematics data from a number of telematics service providers and provide 24/7 loss prevention and safety training for drivers.
Energi is in the process of establishing regional and industry specific captives that are focused on utilizing risk management technologies to ensure all members are on the same playing field and improve overall underwriting results for the members. For more information about the eCaptiv programs, please visit https://www.energi.com/ecaptiv/.
Energi Inc. is the parent company for Energi Insurance Services, Inc. (MGA, Wholesaler & Program Manager), eRisk Solutions (LP Safety, Accident Recon, Environmental Management Services, Fire & Explosion Experts), eClaims Management (Claims TPA), eMarketing Strategies (Marketing Services Company) and eTech Services (Technology Services Company for the Insurance Industry). Through these companies, Energi offers specialized insurance programs along with support services meant to reduce client’s long-term loss costs and enhance their productivity.
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