Captive insurance option offered for energy sector
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Houston International Insurance Group and managing general agency Energi Insurance Services Inc. will partner to offer a captive solution for energy clients.
eCaptiv L.L.C. will be a Vermont-domiciled entity funded by client participation, with excess reinsurance provided above captive retentions, according to a statement published Tuesday by HIIG. Auto liability, general liability, excess liability and workers compensation coverages will be provided.
Peabody, Massachusetts-based Energi provides insurance coverages and technology solutions to companies in fuel distribution, energy transport, energy construction, utilities, renewable energy and agricultural cooperatives.
Insurance holding company HIIG has underwriting segments focused on accident and health, commercial, excess and surplus lines and specialty. The company has total assets exceeding $1.5 billion, according to the statement.
Stonybrook Risk Management brought HIIG and Energi together for the partnership and is the financial adviser for mezzanine financing for Energi through its affiliated company, Stonybrook Capital L.L.C.
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