PV Warranty Insurance backing your solar investment

Discover Munich Re’s Warranty Partner List

Munich Re issues a Warranty Partner List
with photovoltaic module manufacturers that meet the following criteria:

The Warranty Partner

has passed the Munich Re annual due diligence process.
has bought insurance capacity for at least 100 MWp per year which is reinsured by Munich Re.
is entitled to register Buyers of PV projects larger than 2 MWp for Munich Re's warranty insolvency protection: In the event of the manufacturer’s insolvency, the policy is seamlessly transferred to the registered Buyer, ensuring that the warranty claims remain covered.

PV Module manufacturers meeting Munich Re’s
Warranty Partner criteria

(in alphabetical order as of 05/2020)

Adani Mundra Solar
Almaden
Boviet Solar
HT SAAE Turkey
IREX Energy
Jetion Solar
Jolywood Sunwatt
Longi Solar
RenewSys India

Risen Energy
Suntech Power
Talesun
Trunsun Solar
URE United Renewable Energy
VSUN
Waaree Energies
Yingli Solar
Znshine Solar

Munich Re recommends that Buyers request a Beneficiary Declaration Letter issued by Munich Re to confirm and verify that their PV modules have been registered (such a request can be made to the Warranty Partner).

Our PV Warranty Insurance is straightforward and effective: manufacturers protect their ability to pay excessive warranty claims on modules for a period of 25 years (up to 30 years for glass-glass modules). In the event of the manufacturer’s insolvency, the policy is seamlessly transferred to you as a registered buyer, ensuring that your warranty claims remain covered. You can ask manufacturers that have purchased the cover for a buyer’s declaration letter from Munich Re. This insurance enables you to take control of the warranty risk of solar – and the letter acts as your seal of approval.

The Warranty Risk of Solar

Insolvency of the manufacturer, and
PV module warranty claim
(i.e. faulty manufacturing, material defects, excessive material aging)

Our offer

Significant risk transfer: high and extendable insurance protection over 25 years
Reliable loss payout: no first-come, first -served situation in claims scenarios
Individualised buyer’s declaration letter issued by Munich

In case of manufacturer's insolvency → Waranty claims → Munich Re's PV Warranty Insurance

Top-Up Cover

With payout limits of 5–10%, Munich Re’s PV Warranty Insurance meets the financing requirements of most projects.

If buyers might need more coverage, they can extend protection with a Top-Up Cover directly from Munich Re. It provides excess of loss limit coverage for up to 100% of the system’s module value and can be additionally customised to include risks such as costs of labour, transportation or loss of revenue.

5 reasons why you should choose Munich Re’s Warranty Insurance.

Local support and claims handling
International presence

A global network of local offices and insurance partners is essential for your support and efficient claims handling.

Financial rating
AA– rating (S&P)

A– rating (S&P) Partners with a strong capital base strengthen your balance sheet.

Limits
5%–10%

The limit (in percent of a system’s module value) is the maximum payout of the insurance. Meaningful protection starts at 5%.

Assignability
Reserved budgets (dedicated limits) are clearly assigned to each project

For warranty coverage following a manufacturer’s insolvency, limits should be clearly assigned to each project.

Period of coverage
Seamless protection for 25 years

Coverage with one reinsurance partner for the whole duration ensures accountability.

Disclaimer

Not all Buyers of PV modules from the Warranty Partners listed above are eligible or have been reported to Munich Re as registered Buyers. Unless and until a Buyer has been declared to Munich Re and registered, no reinsurance coverage from Munich Re is afforded. Terms and conditions apply to the Policy which may potentially limit (or exclude) coverage. The specific rights and obligations of all parties as well as claims process are contained in the full Photovoltaic Sales Policy and the Photovoltaic Buyer Policy. For details please contact the module manufacturer to receive an Insurance Letter.

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