LDK Solar Co., a vertically integrated manufacturer of photovoltaic products, and its partner Solarif, a fully mandated underwriter of HDI Gerling for PV insurance, have introduced an insurance solution at the system level.
According to a release, LDK Solar announced the new offer at Intersolar Europe, a solar industry exhibition.
Officials noted that LDK Solar Secure provides customers with a complete insurance package, combining an operational 'All Risk Insurance' with a warranty and inherent defect insurance. It includes a full backup of LDK Solar Product and Power Warranties on PV modules. Additionally, the embedded All Risk Insurance applies to all other components of the PV system.
The insurance package is covered by HDI Gerling, a German insurer of property and casualty. As an independent third party, Solarif completed a successful audit of LDK Solar's manufacturing process and product quality.
LDK Solar Secure will be offered initially to commercial customers. LDK Solar 'Professional Series' customers receive one- year All Risk system insurance with a five-year insured warranty and inherent defect option inclusive in the product price. LDK Solar 'Value Series' customers receive one-year All Risk system insurance with a one-year insured warranty and inherent defect option included. The insurance package can be extended after the initial coverage by LDK Solar for up to a maximum of 20 years.
Rene Moerman, Chief Strategy Officer of Solarif, said, "After an elaborate examination of the factory, company, environmental and labor conditions, we declare that LDK Solar fulfills all expectations and is now on our whitelist. We are proud to announce our cooperation with LDK Solar, a company with a positive spirit and great sense of quality."
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