Published:
Energi Announces Formation of Energi Excess Casualty
PEABODY, Mass. - (BUSINESS WIRE) - Energi Holdings, Inc. is pleased to announce that it is forming a
specific division to underwrite Excess Casualty business for the energy
industry. This unit will have relationships with several insurance
companies that have interest in writing Excess Casualty Limits. Energi
facilities will provide the ability for energy companies to obtain
capacity from multiple insurance companies of up to $100M. Energi will
offer excess cover for certain segments including: Fuel Distribution,
Cooperatives, Energy Construction, Renewable Energy, Energy Products
Manufacturers, Exploration & Production and Utilities.
In addition, Energi has finalized a preferred relationship to underwrite
excess business with an AM Best A rated insurance company for Fuel
Distribution and Energy Construction companies that implement Industry
Best Practices. Energi's extensive investment in research & development
on Industry Best Practices, with regard to risk selection, safety & loss
control and claims management allows Energi to offer favorable pricing
and coverage forms. As part of the program, Energi will provide
policyholder access to certain aspects of its SafetyPLUS Program. This
will offer clear value added to energy
companies seeking to minimize risk exposure. Energi's Claims Management
approach provides strong cause and origin from inception of
a catastrophic accident and also retains leading insurance defense firms
that specialize in the energy sector. This clearly provides a unique
approach to the market. It is a way for companies that are implementing
Best Practices to be pooled together with companies like themselves who
over time will obtain the benefit of having lower excess
insurance cost.
"Energi's expansion into the excess business is a natural progression
for the company due to its extensive investment in R&D for underwriting
energy companies. Underlying carriers have seen the results of this
research in the form of strong underwriting results with other
Energi programs," says Brian K. McCarthy, Chief Executive Officer of
Energi Holdings.
Energi Programs are offered directly or through a select network of
independent insurance agents and brokers. Contact Rick Metivier, Chief
of Sales, at (978) 531-1822 ext 344 or visit www.energiholdings.com.
About Energi Holdings Inc.
Energi Holdings is a leading provider of specialty risk management
solutions, including insurance and reinsurance, to certain sectors of
the Energy Industry. Founded in 2005 by accomplished insurance
professionals and energy industry leaders, Energi's competitive
strengths include the ability to attract quality value-oriented clients
and the development of proprietary loss prevention, claims management,
and risk selection techniques. The Company is the sole shareholder of
Energi Insurance Services, Inc., a Massachusetts corporation, and is a
preferred shareholder in Hurst Holme Insurance Company Limited ("Hurst
Holme" ), a Bermuda reinsurance company registered and licensed under
Bermuda law. www.energiholdings.com
Energi Holdings, Inc.
Ed Scott, 978-531-1822 (x318)
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