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Solar PV Liability Insurance

Time: 7/17/2013 4:32:00 PM                       Publisher: Staff

A roof top solar installation under construction collapses a section of the roof, resulting in the death of a general contractor’s employee. Even with a signed contract that holds the solar installation owner harmless, the general contractor’s family seeks damages, resulting in significant defence costs for the solar installation. 

The impact of an unexpected loss like this could be devastating to your company. Chubb’s philosophy is simple, develop deep industry exposure and partner with our customers to find cost efficient insurance solutions that meet or exceed their expectations. We have designed a range of liability insurance products to meet the complex needs of the Solar PV industry and to protect them from potential litigation threats. It’s no surprise that Chubb has become an insurer of choice for many Solar PV companies around the world.
solar pv liability insurance
Solar PV Liability Insurance provides protection for bodily injury and property damage. Solar PV Liability Insurance will cover a company for liability losses arising from its installation, premises and operations, its products or its completed work. Liability for owners during the construction of the installation can also be provided. The following liability claims against a solar installation company illustrate the various ways that you can be liable for the injuries or property damage suffered by others:
·         Premises: If a visitor to the installation slips on a wet floor or is injured by faulty equipment whilst at the site, the owner might be held liable for their injury. 
·         Company Operations: Company business activities that have the potential to go wrong or cause harm can create a liability. For example, responsibility exists when employees performing maintenance on other peoples property or equipment and cause damage to the equipment during such maintenance operations. Alternatively, the improper grounding of the DC, poorly installed or maintained installations may result in arcing failures that lead to a fire that damages surrounding property. The weight of a PV installation situated on the roof of a building could cause structural damage to the building or alternatively, a roof warranty could be void due to inadequate restoration of the penetration holes made during installation.
·         Products: Liability resulting from products that can cause bodily injury or property damage can be a significant exposure. The electricity provided may be of an incorrect specification or an unreliable and intermittent supply. As a result there could be physical damage to property and the consequential financial loss arising from the damaged property.
·         Completed Operations: Liability exists after you have left the site. Considerable time can pass after the activity, but the organisation will still be held liable if the faulty workmanship created a condition that eventually caused the injury. The incorrect installation of wire insulation or looses connections may result in a grounding fault that could lead to a fire occurring at a later stage.
It is important to note that the insured’s legal costs and other supplementary payments in relation to the claim are typically covered under the policy also. It is not uncommon for legal costs to make up a very substantial part of a claim. In some cases, the legal costs outweigh the actual damages award.
Chubb is an industry leader in providing innovative insurance solutions to emerging and fast-evolving industries, especially Solar PV companies, due largely in part to our deep technical expertise:
·         Underwriting. Our local underwriters understand your business, take the time needed to get to know your individual company, are experienced in identifying complex risks, and have decision-making authority to provide the responsive insurance solutions for you.
·         Loss control. Our loss control risk engineers possess deep expertise in solar and provide valuable exposure assessment and risk mitigation recommendations.
·         Claim service. Chubb has earned its reputation for providing claim service in a prompt and fair manner. You and your agent or broker have access to our claims expertise 24/7.
Global reach. Chubb has underwriting, loss control, and claim specialists “on the ground” in 120 offices in 27 countries, which gives us knowledge of local business conditions and trends and helps assure you of a fast, personal response to your inquiries.
Financial stability. Chubb’s financial stability and ability to pay claims rate among the best in the insurance industry, as attested by Standard & Poor’s, Moody’s, and A.M. Best Company, the leading rating services.
If you would like more information on our products and E&O liability solutions for the PV solar industry, please contact your broker or us at the following email: kmstevens@chubb.com 
Chubb Insurance Company of Australia Ltd 
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For promotional purposes, Chubb and Chubb Insurance refers to members of the Chubb Group of Insurance companies. Coverage issued by Chubb Insurance Company of Australia Limited, ABN 69 003 710 647, AFS Licence Number 239778. This material contains general information only and may not suit your particular circumstances. The precise coverage afforded is subject to the statements and information in the relevant Policy wording and subject to the terms and conditions when issued. Visit our Website for further information www.chubbinsurance.com.au
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