SAN FRANCISCO, July 11, 2012 /PRNewswire/ -- GCube Insurance Services, Inc., the leading provider of insurance for the renewable energy industry and Assurant, Inc., a premier provider of specialty insurance, today announced they have signed a distribution agreement to provide U.S. commercial solar project developers greater access to a comprehensive insurance bundle and warranty management program at affordable prices.
Effective immediately, GCube will be able to offer and market Assurant Solar Project Insurance for commercial-sized solar projects in the range of 100kW to 3 MW nationwide. The insurance bundle offers property and liability coverage as well as a warranty management program, allowing developers to address problematic risks that have traditionally made financing difficult for these mid-size projects.
Co-created with developers, lenders, brokers, solar service providers and equipment manufacturers to ensure superior coverage, Assurant, Inc. launched its solar insurance and warranty management program in May to serve the underserved and emerging mid-sized solar project development market.
"Our partnership with Assurant allows us to provide this warranty management program, alongside traditional property and liability insurance offerings to significantly support solar energy development in the U.S.," said John McLane, President of GCube Insurance Services, Inc. "We are pleased to collaborate with a recognized leader in the specialty insurance and warranty service industries to provide a package of risk management tools that address the needs of the lenders, investors, owners and operators."
For over 20 years, GCube has been the leading provider of renewable energy insurance services offering property and liability coverage to utility scale projects. GCube now brings this knowledge and expertise to the commercial scale solar community through its partnership with Assurant.
"We are thrilled to partner with GCube to ensure that we have the necessary capabilities to address the market's needs and provide greater access to our solar insurance offering," said David Schroeder, Vice President of Operations and Industry Relations at Assurant, Inc.
About Assurant, Inc.
Assurant is a premier provider of specialized insurance products and related services in North America and select worldwide markets. The four key businesses -- Assurant Solutions, Assurant Specialty Property, Assurant Health and Assurant Employee Benefits -- partner with clients who are leaders in their industries and build leadership positions in a number of specialty insurance market segments. Assurant provide debt protection administration; credit-related insurance; warranties and service contracts; pre-funded funeral insurance; solar project insurance; lender-placed homeowners insurance; manufactured housing homeowners insurance; individual health and small employer group health insurance; group dental insurance; group disability insurance; and group life insurance.
Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has approximately $27 billion in assets and $8 billion in annual revenue. Assurant has approximately 14,000 employees worldwide and is headquartered in New York's financial district. www.assurant.com.
GCube is the leading provider of insurance services for renewable energy projects in wind, solar, biofuels, hydro, wave and tidal around the globe.
Its specialized focus and robust underwriting authority offers unparalleled property and liability insurance coverage for all construction and operational risks. With over 20 years' experience in the renewable energy sector, GCube understands the unique exposures of these power generation projects and assists its clients in identifying, quantifying and mitigating risk efficiently and economically while helping them achieve their business objectives.
To learn more about how we can support your renewable energy insurance coverage requirements, please visit our website at www.gcube-insurance.com.
SOURCE Assurant, Inc.; GCube Insurance Services, Inc.