Greentech Lead America: Assurant, a provider of specialized insurance products and related services, announced it will provide an insurance bundle and warranty management program for residential solar projects and solar thermal (hot water) heaters.
The program was developed under Clean Energy Finance and Investment Authority’s (CEFIA) new $60 million solar lease program in Connecticut.
The Solar Lease II program was launched on July 1, 2013. The program is expected to finance the installation of approximately 1,500 residential solar projects and 400 solar thermal heaters throughout Connecticut.
The specialty insurance provider was selected by CEFIA, the nation’s first full-scale clean energy finance authority, to provide property and liability insurance for its lease program. Under this warranty management program, Assurant also will provide coverage for equipment under warranty.
Bryan Garcia, president of CEFIA, said, “The Assurant product will provide a one-call resolution to address issues a homeowner may experience over the life of the PV system. This assurance will give peace of mind to homeowners in Connecticut seeking to go solar.”
Jeanne Schwartz, vice president of new venture commercialization of Assurant, said, “Working with CEFIA, we were able to develop a customized solution to provide the authority with the comprehensive coverage they need to protect their significant investment in solar.”