Assurant, a major insurance provider, today announced a new partnership with Solarrus to manage the warranty side and reduce risk through ongoing consulting for Assurant’s new commercial solar insurance bundle.
Assurant launched its commercial solar insurance product earlier this year. The company provides comprehensive project insurance for solar projects up to 3 megawatts in size.
“Our product is a bundle and it includes warranty,” said Jeanne Schwartz, vice president of new venture commercialization for Assurant.
Including the warranty work in the bundle is key to making sure solar installations are carefully maintained and cared for to insure a long life and reduce the risk of loss.
New York-based Assurant was looking for a company to perform warranty work and found Solarrus’ subsidiary True South Renewables.
“Assurant contacted us and they were interested in having True South perform the boots-on-the-ground work for their warranty contracts,” said Robert Forster, vice president of strategic planning for Solarrus. “It became clear that it was a good fit for Solarrus.”
The company is going to go beyond providing engineers and technicians to perform warranty repairs and maintenance, Forster said. Solarrus will offer guidance to Assurant and Assurant’s clients throughout the design and build process when possible.
“This partnership is about optimizing performance and minimizing the risk of loss,” Schwartz said. The partnership will cmbine Assurant’s financial risk management expertise with Solarrus’ engineering skills and technical knowledge.
Since Assurant launched its new commercial solar project insurance product in the spring, it has been steadily growing, proving the market was a smart one to break into for the insurance company. “We have been very gratified by the marketplace reception,” Schwartz said. “We’re continuing to grow and get more projects insured.” She said the new partnership will help the insurance provider help its clients more throughout the process.