Press release from Business Wire
Assurant's Solar Group Selected by Connecticut's Clean Energy Finance and Investment Authority to Protect $60 Million Residential Solar Lease Program
Monday, July 22, 2013
Assurant's Solar Group Selected by Connecticut's Clean Energy Finance and Investment Authority to Protect $60 Million Residential Solar Lease Program08:30 EDT Monday, July 22, 2013
NEW YORK (Business Wire) -- Assurant, Inc's solar group today announces it will provide an insurance bundle and warranty management program for residential solar projects and solar thermal (hot water) heaters under Clean Energy Finance and Investment Authority's (CEFIA) new $60 million solar lease program in Connecticut.
The specialty insurance provider was selected by CEFIA, the nation's first full-scale clean energy finance authority, to provide property and liability insurance for its lease program. Through its warranty management program, Assurant also will provide coverage for warrantied equipment should it malfunction or need repair.
“The incorporation of the Assurant insurance bundle into the CT Solar Lease II program represents a major milestone in our program,” said Bryan Garcia, president of CEFIA. “The Assurant product will provide a one-call resolution to address issues a homeowner may experience over the life of the PV system. This assurance will give peace of mind to homeowners in Connecticut seeking to go solar.”
The Solar Lease II program was launched on July 1, 2013. The program is expected to finance the installation of approximately 1,500 residential solar projects and 400 solar thermal heaters throughout Connecticut.
“It is exciting to be a part of the residential solar revolution taking place and support CEFIA's new solar leasing program, ”said Jeanne Schwartz, vice president of new venture commercialization of Assurant, Inc. “Assurant is committed to meeting the evolving needs of the solar industry and encourages industry growth. Working with CEFIA, we were able to develop a customized solution to provide the authority with the comprehensive coverage they need to protect their significant investment in solar.”
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 provides 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 $29 billion in assets and $8 billion in annual revenue. Assurant has approximately 14,500 employees worldwide and is headquartered in New York's financial district. www.assurant.com.
For more information about Assurant Solar Project Insurance, follow us on Twitter at https://twitter.com/assurantsolar or go to http://www.assurantsolar.com.
Vera Carley, 212-859-7002
Director, Media Relations and Financial Communications