Assurant, Solarrus Join on Risk Management Solutions for Solar Projects

Assurant Inc., a premier provider of specialty insurance, today announces it will work with Solarrus Corp. and its subsidiary, True South Renewables Inc., a full-service solar operations and maintenance company, to reduce project risk and improve the long-term financial viability of commercial-sized solar photovoltaic installations.

The two companies plan to leverage Assurant’s financial and risk management expertise as well as Solarrus’ engineering skills and technical knowledge to reduce commercial-scale solar project risk, enhance project investment opportunities and better service customer needs. Assurant plans to leverage Solarrus’ subsidiary, True South Renewables’ (TSR) operations and maintenance (O&M) expertise, to provide field service support for the warranty management component of its Assurant Solar Project Insurance product for projects in the 100 kW to 3 MW range. The companies also plan to build an asset management program, allowing solar project owners to contract for technical, financial and operations management to optimize system performance and protect their investment.

“Assurant is committed to providing superior customer service and innovative insurance products to meet the needs of commercial-scale project developers. By collaborating with Solarrus, we recognize the potential to provide superior O&M service offerings to our customers,” said Jeanne Schwartz, vice president of new venture commercialization for Assurant. “We plan to take advantage of the core strengths of both companies and work to help solar project developers address the growing demands of investors and lenders for long-term project protection.”

TSR’s O&M services include preventative, corrective and condition-based maintenance that ensure the energy output from solar arrays are maximized to ensure consistent and ongoing project revenue generation.

“This unique arrangement brings together two industry innovators to meet the risk management needs of solar project developers,” said Bill Klein, chief executive of Solarrus. “Our proven O&M practices and solid results in maintaining solar arrays help ensure projects across the country continue to perform and generate consistent energy output. Working with Assurant, we can help further strengthen the industry and solidify the operations and maintenance standards.”

In May 2012, Assurant launched a solar insurance bundle that includes liability and property coverage as well as a warranty administration program. Co-created with developers, lenders, brokers, solar service providers and equipment manufacturers to ensure superior coverage, Assurant Solar Project Insurance serves the underserved and emerging mid-sized solar project development market.

For more information about Assurant Solar Project Insurance, go to www.assurantsolar.com.