Energi has launched its second group captive for the energy industry, eCaptiv PC2-IC.
The captive programme, which is domiciled in Vermont, is aimed at energy companies with less than $250,000 in primary casualty premiums.
Energi launched its first energy industry group captive, PC1-IC, in August, and the two programmes now have more than 40 members and over $18 million in gross written premium.
Both programmes are for energy companies with fuel distribution, energy transportation, energy construction, renewable energy, agricultural cooperative, and utilities segments.
They offer up to $5 million in limits for general liability and commercial automobile and statutory limits for workers’ compensation.
All members of the group captive have adopted risk management technology programmes such as dash cameras, telematics, and online training that are key elements in combating nuclear punitive damage judgements and commercial auto trends.
Energi’s sister company, eTech Services’ Telematics Exchange and eLive Connect are used to aggregate telematics data from various telematic service providers and provide around the clock loss prevention and safety training for drivers.
Paul Wendt, president of Ken Wendt's Propane Gas Service, commented: “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.”
“The eCaptiv programmes provide us with the opportunity to control our own destiny with other like-minded businesses like our company.”