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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.
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.
Contact our experts
Michael Schrempp
Michael Schrempp
Head of Green Tech Solutions
Julia Moser
Julia Moser
Senior Underwriter
Green Tech Solutions
Ronald Sastrawan
Senior Risk Analyst
Hong Kong
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