11 July 2012
GCube Insurance Services, Inc., a provider of insurance for the renewable energy industry and Assurant, Inc., a provider of specialty insurance, announced that they have signed a distribution agreement to provide US commercial solar project developers’ greater access to a comprehensive insurance bundle and warranty management program at affordable prices.
Effective immediately, GCube will be able to offer and market Assurant Solar Project Insurance for commercial-sized solar projects in the range of 100kW to 3MW nationwide. The insurance bundle offers property and liability coverage as well as a warranty management program, allowing developers to address problematic risks that have traditionally made financing difficult for these mid-size projects.
Co-created with developers, lenders, brokers, solar service providers and equipment manufacturers to ensure superior coverage, Assurant, Inc. launched its solar insurance and warranty management program in May to serve the underserved and emerging mid-sized solar project development market.
“Our partnership with Assurant allows us to provide this warranty management program, alongside traditional property and liability insurance offerings to significantly support solar energy development in the US,” said John McLane, President of GCube Insurance Services, Inc. “We are pleased to collaborate with a recognized leader in the specialty insurance and warranty service industries to provide a package of risk management tools that address the needs of the lenders, investors, owners and operators.”
For over 20 years, GCube has been the leading provider of renewable energy insurance services offering property and liability coverage to utility scale projects. GCube now brings this knowledge and expertise to the commercial scale solar community through its partnership with Assurant.
“We are thrilled to partner with GCube to ensure that we have the necessary capabilities to address the market’s needs and provide greater access to our solar insurance offering,” said David Schroeder, Vice President of Operations and Industry Relations at Assurant, Inc.