The Travelers Companies, a property casualty insurer, has added SolarPak coverage to its EnergyPak series of insurance products and services offerings.
According to Travelers, the SolarPak coverage was built to meet a range of needs for solar operations. The scope of coverage encompasses entire life span of a solar farm or operation, from early stage feasibility and development to operational phase.
The SolarPak coverage features several phases which include: property at site assessment locations in which towers, weather-data gathering equipment and property awaiting installation would be covered; and builders’ risk coverage which is built into SolarPak coverage form and can be tailored to individual needs.
In addition, it also features a transition from construction phase which is possible with SolarPak, as it is designed to cover permanent operations for solar PV energy systems and its related property and equipment and business interruption.
The new product offering provides capabilities to write associated coverages including contractors’ equipment, general liability, hired and non-owned auto and umbrella.
Lauren Berry, chief business development officer of Travelers Inland Marine, said: “We created the SolarPak coverage to help our current and potential customers manage the unique, individualized risks that come with working with solar PV.”