Assurant has launched a new comprehensive insurance offering for commercial solar project developments specifically aimed to service the 100kW to 3MW solar market. The Assurant Solar Project Insurance is said to be the industry’s first warranty administration and comprehensive protection plan for all phases of commercial-sized development projects.
“Energy experts predict strong growth in medium-size solar projects in markets with high electricity prices and strong renewable energy mandates, though significant operational and financial risks often pose challenges during their development, installation and operational phases,” said David Schroeder, vice president of operations and industry relations at Assurant. “Assurant Solar Project Insurance reduces those risks by providing phase-specific insurance for an entire project's lifecycle, satisfying lender and investor requirements to protect project viability and their investments.”
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The company’s new insurance offering integrates property and liability insurance with warranty management, allowing Assurant to be a single point contact for commercial sized PV projects or portfolios of projects that generate between 100kW and 3MW.
