Astronergy announced signing the contract of 3rd party insurance service which provides the cover for registered PV modules produced in 2018 with Munich Re and PICC P&C.
Along the agreement, PICC P&C will provide insurance to back-up 10-12 years product warranty and 25 years performance warranty for Astronergy modules delivered to registered international projects in 2018, and Munich Re will provide reinsurance to PICC. By assigning dedicated financial capacity for these registered clients, the insurance cover provides a credible third party guarantee for investors and financing institutions that choose to install Astronergy modules.
"Munich Re is an international leading reinsurance company, which implements the most stringent factory inspection standards in this industry. It has inspected 170 factories in the world and only approved the best ones including Astronergy," Dr. Lu, Chuan, the CEO of Astronergy, commented, "The underwriting of well-known insurance companies will bring more additional value to our customers globally."