PRESS RELEASE:

PowerGuard surpasses one million insured solar panels delivered into the Japanese Market

Solar module manufacturers using PowerGuard warranty solution show continued growth in Japan

| From
solar power warranty

IRVINE, Calif., July 1, 2013 (SEND2PRESS NEWSWIRE) -- PowerGuard(R) Specialty Insurance Services announced today that more than one million insured solar panels have been reported to the PowerGuard Third Party Warranty Program and delivered into the Japanese marketplace.

PowerGuard's third party warranty allows solar manufacturers to offer clients the enhanced security of additional warranty protection in the unlikely event of a solar manufacturer's bankruptcy.

The PowerGuard program provides immediate coverage of reported panels without waiting periods, the significant exclusions found in other coverage, or substantial deductibles. The warranty is non-cancellable. In the event of insolvency it grants third party rights, allowing module purchasers to file claims directly with PowerGuard or the insurance company.

In addition, PowerGuard recently launched their "Warranty Verification Portal." The portal was developed to help those purchasing panels from PowerGuard's solar manufacturing clients to verify the existence of extended warranty protection. The portal will increase convenience and decrease risk for Japanese module buyers and the financial institutions that support them.

According to Mike McMullen, co-founder and managing principal of PowerGuard Specialty Insurance Services, "PowerGuard is proud to support our solar manufacturing clients supplying the Japanese market. The Japanese purchaser is smart and knowledgeable about third party warranty requirements and solutions. They require excellent warranty coverage without waiting periods and critical policy exclusions. Most important is the ability to file a claim directly with PowerGuard or the Insurance Company, if a manufacturer's insolvency should require it."

A global leader serving the unique risk management and insurance needs of renewable energy companies, PowerGuard spent several years and a million dollars researching the solar power warranty space before introducing their PowerClip(R) Third Party Warranty Product.

PowerGuard currently insures more than 30 million solar panels, with values exceeding $8 billion, for 14 major solar original equipment manufacturers (OEMs).

For More information please contact:
Mike McMullen
+1.949.224.1325
Mmcmullen[at]powerguardins.com

About PowerGuard Specialty Insurance Services:

PowerGuard is a specialty renewable energy program manager specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies.

PowerGuard's PowerClip warranty product is the most comprehensive contractual liability coverage available to renewable energy manufactures, project developers, power generation operators and the financial institutions who invest in them.

PowerGuard's RevGuard Solar Project Guarantee Policy is a simple and straightforward insurance policy that guarantees the loss of revenue associated with defects related to the Balance of Plant Solar Generation Equipment - written on investment grade paper with an insurance company holding an AA rating from Standard & Poor's. For more information please visit http://www.powerguardins.com/ .

News Source:
MORE INFORMATION:
For more information regarding this press release, please visit:
http://www.powerguardins.com/
Like, Share, Save this press release:
  TWEET   SHARE   G+   PIN IT   STUMBLE   LinkedIn   Instapaper   Buffer

PERMALINK:
https://www.send2press.com/newswire/PowerGuard-surpasses-one-million-insured-solar-panels-delivered-into-the-Japanese-Market_2013-07-0701-001.shtml
Shortlink to this press release: http://goo.gl/n4cmR
  LEGAL NOTICE AND TERMS OF USE:  
The content of the above press release was provided by the “news source” (PowerGuard Specialty Insurance Services) or authorized agency, who is solely responsible for its accuracy. Send2Press® is the originating wire service for this story and content is Copr. © 2013 PowerGuard Specialty Insurance Services with newswire version Copr. © 2013 Send2Press (a service of Neotrope). All trademarks acknowledged.

Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
STORY READS for this single page only, as of Sep 28 2016:
[ count retired 8.4.16 ]


back to top
REFERENCES: solar power warranty, solar manufacturing, Mike McMullen, PowerGuard RevGuard Solar Project Guarantee Policy, PowerGuard Specialty Insurance Services, solar panel warranty, solar manufacturing, Japanese market, insured, solar original equipment manufacturers, OEMs, news, press release from PowerGuard Specialty Insurance Services, Jul 1, 2013, Energy, Oil, Gas and Solar, Insurance, Business, Irvine, California, PowerGuard surpasses one million insured solar panels delivered into the Japanese Market