Suntech modules now backed with Munich Re insurance

Wuxi Suntech announced a partnership with reinsurer Munich Re to provide insurance back up to its 25-year solar module warranty for all modules shipped to the United States. This partnership is further validation of Suntech’s bankability. To qualify for this insurance, Suntech successfully completed Munich Re’s rigorous process and scrutiny that included product audits and

ProSight Specialty Insurance extends OOPS coverage to solar contractors

ProSight Specialty Insurance is enhancing its Solar Contractors program to include a first-of-its-kind Obstruction of Premises Supplemental (OOPS) coverage. This endorsement, which was previously introduced as a part of the company’s Luxury Home Builder’s program, is being extended to all solar contractors with a ProSight policy. Beyond the comprehensive general liability policy that comes standard, the OOPS

GCube strengthens West Coast operation

GCube Insurance Services (GCube),  underwriter for renewable energy, has enhanced its presence on the West Coast of the U.S., with a number of significant additions to the underwriting, claims and business development teams based out of Newport Beach, California. California has taken a leading role in the adoption of renewable energy in the US, with

Travelers Insurance reminds us to assess potential risks with solar installations

Recently, Solar Power World sat down with Travelers Insurance to discuss the importance of insurance in the solar industry. Eileen Kauffman, head of Travelers’ renewable energy practice, and Pete Wilcox, technical director of inland marine, told us while solar professionals understand they need insurance, they don’t exactly understand what they need. “For solar companies, it’s

Do you have builder’s risk insurance on your solar project?

Weather is as inevitable as death or taxes. The key to a successful solar installation isn’t avoiding the weather; rather, it’s about dealing with the inevitable as effectively as possible. You must protect the owners’ and financiers’ interests without losing your own business in the process. We’ve addressed when weather causes the most problems for

Why securing good insurance is important for project financing

Once seen as novel or risky, solar energy is now a secure, standardized investment class with reliable equipment and long-term utility power purchase agreements (PPAs) in place lasting 20 years or more. Gone are the days when PV investment was treated as high risk/high reward and these projects now commonly attract the interest of large

5 reasons PV system fire testing is important

Fire safety is nothing to take lightly, as solar mounting manufacturer SolarDock explains in the list below, which originally appeared on the company’s blog, available at www.solardock.com. 1. Avoid costly delays by installing code compliant systems California Building Code. International Building Code. National Electrical Code. Each of these have strengthened their requirements for what is

Solar Insurance: 4 Steps to Protecting Your Business

The solar energy sector encompasses unique operations and risks. From manufacturing solar modules and racking systems, to field erection of new renewable technologies, energy operations are subject to both natural disasters and man-made threats. Effective business continuity planning starts with an understanding of these threats and how they might impact your most critical operations. Predefined

Insurance Cheat Sheet: Questions Businesses Ask About Going Solar

Jason Slattery, Director of Solar for GEM Energy, a Rudolph/Libbe Company and Top 400 Solar Contractor, answers common questions businesses ask about going solar and how to answer them. What insurance will I need if I own a solar array? The title owner needs to fully cover the solar array’s value under a property and

What You Need To Know About Insuring Your Solar Business

Insurance can be confusing. We asked representatives from Travelers Insurance and Southern Solar Systems, a 2014 Solar Power World Top 400 Contractor, about insuring your solar business. Here’s what they said.    Solar Power World: What kind of insurance does a solar installation company need? Does it depend on scale, segment or state? “The insurance needs