Photovoltaic Parks Insurance

Anticipating the developments in the field of alternative energy production and considering that they will be a permanent trend for the next 20 years, a new insurance program was created which supports the photovoltaic units installation for energy production.

Always having in mind the coverage of these facilities from the main risks, which may threaten their proper operation, but also taking into account the financial uncertainty provoked by the occurrence of such a risk to the owner of the facility, we are able to provide additionally the coverage of the business closure in order to meet the financial losses which may follow a covered material damage.

For the complete coverage of the photovoltaic installations the program consists of two insurance products:

Insurance Against All Risk of Assembly (EAR)
Covers the construction and assembly of facilities

Covers
Damages

Coverage of riots, strikes and political unrest
Extended maintenance coverage (3 months)
Guarantee for constructions in earthquake zones
Degradation of aquifer
Manufacturer risk coverage
Guarantee concerning the means of firefighting and fire safety at the construction sites
Exclusion of damage to crops, forests, crops and antiquities
Special conditions concerning measures for protection against rainwater, flood and deluge.

Liability

General third parties liability
Employer’s liability for obligations apart from those of Social Insurance Institute.

Fire Insurance & Additional Risks
It covers the facilities as soon as they are put into operation

Covers

Fire, Lightning strike, Smoke
Explosion
Aircraft crash, vehicle collision
Forest, bushes, grass Fire
Flood
Storm, gale, snow, hail
Theft
Malicious damage (up to 75% of the insured capital)
Electrical failures up to the amount of 50,000 € per event and in total per year
Liability against third parties from the above covered risks up to 10% of the insured capital for material losses per event and in total per year
Collection of debris up to 5% of the insured capital for material losses per event and in total per year
Earthquake (optional)
Closure due to occurrence of covered risk (optional).