Munich Re and WTW partner with Chinese green-tech company
Global reinsurance giant Munich Re and broker WTW have partnered with a Chinese green-tech company that specialises in photovoltaic (PV) systems.
Solar panel and material manufacturer DAS Solar said it has collaborated with Munich Re Green Tech Solutions team and Willis’ power and new energy team on PV Module Warranty Insurance.
DAS Solar’s 2023 PV module production sold regionally and internationally will be protected under the insurance by Munich Re and its primary insurance partner.
Munich Re's PV Module Warranty Policy offers a 25-year warranty for single-glass modules and a 30-year warranty for dual-glass modules. The product and performance warranty risks for the whole life cycle will be largely transferred to this insurance policy.
Kollsman Chan, deputy director of Munich Re, said DAS Solar cleared its thorough risk assessment and factory auditing of its products and technology.
Lv Yuxiang, director of Willis Insurance Brokers, said: “As one of the earliest insurance brokers to establish a new energy department, Willis mainly serves first-tier PV brands and is Munich Re's largest partner in China. In recent years, with the rapid development of the photovoltaic industry, DAS Solar has become a new top-tier brand in the photovoltaic industry in four years. I hope we can enhance DAS Solar's brand influence in the global market through this three-way cooperation.”
Vincent Cao, senior vice president of DAS Solar commented: "With Munich Re as a risk transfer partner for this year, DAS Solar can dedicate more resources to improve our products and services. Both DAS Solar regional and international clients will gain the insurance benefits brought by Munich Re. In the future, DAS Solar will continue to expand footprint and develop more high-quality and high-efficiency PV products to support international clients.”
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