ABOUT Energy Insurance Services

Superior Captive Solutions for the Energy Industry

EIS Overview

Energy Insurance Services, Inc. (EIS), a wholly-owned stock insurance subsidiary of Energy Insurance Mutual Limited (EIM), was formed to provide a facility that would meet EIM Member's specific and dynamic business requirements for the placement and management of alternative risk related products.

EIS was originally incorporated in Bermuda on May 27, 1992 under the Companies Act of 1981 as Energy Insurance (Bermuda) Ltd. Upon completing redomestication requirements and moving onshore to South Carolina, EIB was renamed EIS on December 1, 2006.

EIS is licensed to conduct insurance operations in South Carolina, and authorized to write insurance, reinsurance or coinsurance for a Member or group of Members through the use of Mutual Business Programs.  EIS contracts with Energy Captive Management LLC (ECM), a subsidiary of EIM, as its captive manager to conduct the business of EIS and the Mutual Business Programs.

In 2018, the Captive Insurance Companies Association (CICA) honored EIS with the CICA 2018 Outstanding Captive Award stating "The Outstanding Captive Award is presented to a captive insurance company or risk retention group that has shown creative uses for a captive, been successful in managing the captive in terms of net results and usefulness to its owners, has prevailed over difficult times or situations, and has gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry".
Programs

Mutual Business Programs

Eligibility

Any EIM Member or group of Members, with the approval of EIS, may form a Mutual Business Program (MBP).

Formation

Any EIM Member or group of Members wanting to form an MBP must submit a brief proposal for their program to EIS. EIS will review the proposal and advise the Member(s). Once the MBP is approved, EIS will work with the EIM Member(s) to setup the MBP.

Assets

Because EIS is a South Carolina sponsored captive insurance company and each MBP is a protected cell, the losses attributed to a MBP may only be paid from the assets attributed to that MBP.

Each MBP, initially, must provide sufficient capital to meet the minimum specific requirements of its Program. The capital may be provided in various forms as authorized by South Carolina insurance regulations and EIS.

Investment of Assets

EIS will invest the assets of each MBP for the specific account of each MBP in consultation with the Member's Program Advisory Committee.

Taxation and Regulatory Matters

Taxation

Regulatory

Deductibility

Authorized Coverages

EIS is authorized to write insurance and reinsurance for a wide array of coverages, subject to the South Carolina captive insurance statute or regulatory guidelines. Policies may be either risk bearing or reinsured.  Below is a representative sample of current lines of insurance EIS writes on behalf of our Mutual Business Program Participants.  EIS is not limited to these lines of insurance.  Our ability to write any risk exposure is driven by the creativity and customized needs of EIM Members.

  • General Liability
  • Auto Liability
  • Marine Liability
  • Protection & Indemnity
  • Excess Liability
  • Employers Liability
  • Professional (Error & Omission) Liability
  • Directors' & Officers' Liability
  • Pollution Legal / Environmental Liability
  • Wildfire Liability – Property Damage Only
  • Non-traditional indemnity
  • Commercial Property
  • Nuclear Property
  • Railroad Rolling Stock
  • Auto Physical Damage
  • Unmanned (Drone) Aircraft Physical Damage
  • Crime / Employee Dishonesty
  • Builders / Construction Risk
  • Inland Marine including Contractors Equipment
  • Marine Hull and Machinery
  • Medical Stop Loss (traditional specific and aggregate excess of loss)
  • Workers’ Compensation – Deductible Reimbursement
  • Excess Workers’ Compensation
  • Terrorism Wrap  [Download]
  • Cyber Risk
  • Railroad Protective Liability
  • Contractors Protective Liability
  • Trust Owned Health Insurance – Long Term Retiree Medical Stop Loss (non-traditional cover in a multi-participant MBP)  [Download]

Corporate Governance

Board of Directors

Martin J. Lyons, Jr.
Ameren (Chair)
Kodwo Ghartey-Tagoe
Duke Energy (Vice-Chair)
G. Thomas Bolton, III
Energy Insurance Mutual Limited
Jeffrey Tkacz
Energy Insurance Mutual Limited
Megan Ogden
Energy Insurance Services, Inc.

Officers

Auditors

Leadership

Email:  mogden@eimltd.com

Phone:  (843) 718-2090
Fax:    1 (800) 341-6801

Mailing Address
410 Mill Street, Suite 401
Mount Pleasant, SC 29464

Financial & Operational Profile

12/31/2024
Key Financial Data
EIS General Account - Aggregated
Shareholder Equity
$5.2 Million
Mutual Business Programs - Aggregated
Gross Premium Earned
$285.5 Million
Ceded Premium Earned
$178.8 Million
Net Loss and Loss Expense
$81.9 Million
Assets
$1,515.5 million
Liabilities
$1,221.9 million
Surplus
$251.8 million
Key Operational Data
MBP Count
26
Policy Count - In Force
103
EIM Member Participant Count
25

EIS Publications

Resources