eCaptiv, the North American provider of captive insurance services affiliated to Energi Insurance Services, will form two group captives to combat commercial auto trends in Canada.
The captive programmes, which will be formed through an exclusive group of independent insurance brokers, are in the process of accepting submissions for prospective members and intend to commence in July 2019.
The first captive will be engineered for companies with HazMat exposure, while the second will be centred on more generic short to medium haul fleets.
Both will be designed for companies with more than $250,000 in primary casualty premiums.
All members of the group captives will adopt risk management technology programmes that are key elements in combating litigation financial and adverse commercial auto trends, such as dash cameras, telematics, and online training.
eCaptiv’s sister company, eTech Services’ Telematics Exchange and eLive Connect will be used to compile telematics data from multiple telematics service providers and provide 24/7 loss prevention and safety training for drivers.
Tony Passarelli, general manager and vice president of distribution, Energi of Canada said the “eCaptiv programme allows members the ability to control their destiny”.
“Members can exit the traditional insurance market to combat current commercial auto trends.”