eMaxx has launched new alternative energy warranty products through a variable cost captive solution.
The suite of warranty programmes provide support to manufacturers, developers and owners for renewable, alternative and energy efficiency projects by providing an insurance backed solution to product and performance shortfalls backstopped through XOL Quota Share Reinsurance.
The alternative energy warranty products provide a variable cost captive solution for project owners, developers, manufacturers and financiers to insure the performance of these projects and reduce credit exposure.
The programmes include energy savings warranty (ESW), solar performance warranty (SPW), manufacturer’s product warranty (MPW) and performance warranty (PW).
Commenting on the solution, Kevin Kaminski, senior vice-president, underwriting at eMaxx, says: “Environmental social governance (ESG), increasing energy costs and volatility are driving the implementation of alternative energy and energy efficiency projects.”
He adds: “Our alternative energy warranty products facilitate financing by mitigating performance risk and improving the strength of manufacturer’s and contractor’s warranties.”
In May, eMaxx expanded its platform for insurance companies to enter the variable cost captive market.
