Solar manufacturer and distributor, aleo solar North America, and specialty insurance provider Assurant, Inc's solar group announce they are partnering to offer homeowners a warranty management program to ensure the long-term performance of new solar installations.
New York and Denver, July 9, 2013 —Solar manufacturer and distributor, aleo solar North America, and specialty insurance provider Assurant, Inc's solar group announce they are partnering to offer homeowners a warranty management program to ensure the long-term performance of new solar installations.
Homeowners will be able to enjoy one-call warranty resolution on the components of their aleo solar system. Originally only available for commercial-scale solar project developers, Assurant's warranty management program reduces worries for consumers about dealing with multiple manufacturers of different system components by providing a single point of contact for all warranty-related claims to ensure a fast response if solar equipment needs repair.
"More than ever, solar companies need a strategic insurance partner with a strong understanding of both risk and the solar industry like Assurant. We are happy to be partnering with them to provide this additional security for our customers," said Shane Messer, executive vice president of aleo solar North America. "We always look for ways to provide our customers with the highest level of service and superior products. Partnering with Assurant, we can do both."
Residential solar installations are expected to grow by 40 percent in 2013 due to lower pricing and alternative solar financing options, according to the U.S. Solar Market Insight: Year-in-Review 2012 research report conducted by Solar Energy Industries Association® and GTM Research.
"We are happy to be expanding our presence in the residential solar market and working with a company that is a leader," said Jeanne Schwartz, vice president of new venture commercialization at Assurant. "Many homeowners, looking to save money on utility bills and switch to a renewable energy source, are already eager to install solar panels on their homes. Our new warranty protection offering will provide them added peace of mind that their financial investment in their system will be protected."
Under the terms of the agreement, aleo solar dealers will be able to offer homeowners purchasing a solar installation an Assurant warranty management plan for up to 20 years. The warranty management program will cover solar installation components including solar panels, inverters and racking systems warrantied by their original equipment manufacturer. For more information on residential solar installations go to http://www.aleo-solar.com/for-consumers/.
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 $8 billion in annual revenue. Assurant has approximately 14,500 employees worldwide and is headquartered in New York's financial district. www.assurant.com.
For more information about Assurant's solar group, please visit http://www.assurantsolar.com and follow us on Twitter (@AssurantSolar).
About aleo solar
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of the company (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. The premium manufacturer currently has approximately 900 employees and is represented in the key photovoltaic markets all over the world. The aleo solar group has an annual production capacity of 280 megawatts at its plant in Prenzlau, Germany. The company generated revenue of € 279.9 million ($ 363.9 million) in 2012.To learn more about aleo solar, contact 1-866-411-ALEO or go to www.aleo-solar.com.