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WINAICO insurance package enjoys excellent market reaction
Since the beginning of last year WINAICO has been offering its customers a special form of added value: With the purchase of WINAICO modules, plant operators receive free insurance protection for a period of 2 years.
The comprehensive insurance policy covers the complete photovoltaic system against almost all property damage, operational interruptions and any possible reduced yields for the first 2 years. Furthermore, the operator has the option of extending the insurance cover by an additional 8 years, to a total of 10 years.
"With over 2.000 registered insurance packages we are witnessing an extremely positive interim upshot after 18 months. Product quality and wide-ranging plant protection are the ideal combination for satisfied plant operators" summarises managing director Sascha Roßmann.
The insurance package was created in cooperation with Willis Group Holdings plc, one of the world's leading insurance brokers. The scope of insurance cover is underwritten by the renowned European insurance company ERGO Versicherung AG. Decisive for the superb scope of cover and the attractive conditions of a contractual extension is not only the strict quality assurance measures but also the fact that WINAICO supplies its customers on an exclusively direct basis.
Thanks to the positive development, future end consumers, financers, investors and project developers profit in equal measure. Thanks to the non-bureaucratic process, installed plants are immediately insured and the operator is directly protected against damage-related yield losses.
Thanks to the extension option, available for a period of 10 years, companies are offered extensive planning assurance and operators of solar plants have the option of financing their WINAICO photovoltaic systems with greater ease and flexibility; because the plant is fully protected throughout the principle credit repayment period.
Mathias Pahl, CEO Germany for Willis GmbH & Co. KG, explains: "With this step WINAICO Deutschland GmbH is expanding its high quality range and adding a further highlight, in addition to product quality. We consider our cooperation with WINAICO to have been endorsed and look forward to being able to offer this insurance protection to all WINAICO customers in the future."
WINAICO "3-in-1" insurance package: Comprehensive security The plant operator is the named policy holder with the WINAICO insurance package. This means that a direct contractual relationship exists with the insurer. This direct, personalised contractual relationship has far-reaching advantages for the policy holder:
- Insurance protection remains intact in the event of a takeover/company name change/ insolvency of the module manufacturer.
- No ceiling to the overall damages total (all damages reported). At WINAICO the maximum total cover per object is EUR 10 mil.
- The settlement of damage claims takes place directly with the operator, meaning that complete transparency exists regarding the settlement amount and payout.
- The reverse burden of proof protects the plant operator against a time and cost-intensive process of proving the damage. The insurer is obliged to check damage claims put forward for legitimacy.
- The WINAICO insurance package contains an exclusion ruling out the exceptional right of termination on the part of the insurer. Thanks to this exclusion it is not possible for the insurance company to terminate the cover within the timeframe of the policy, even in the event of multiple claims by the plant operator.
Further details on the insurance and on the various specifications can be obtained from our insurance broker Willis GmbH & Co. KG.
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