Indian insurance company Bharat RE Insurance Brokers is introducing an innovative new warranty insurance program that will cover solar photovoltaic modules in the country.
While insurance for solar photovoltaic modules is already available internationally, the company is looking to work with international underwriters to offer similar packages in India.
Indian Prime Minister Narendra Modi's government has made a concerted push to promote renewable energy across the country, with companies and private individuals receiving new encourage and incentive to adopt sustainable technologies such as solar photovoltaic modules. Considering that warranty insurance packages are a must for any high-tech product, the same is the case for photovoltaic modules, something which has prompted Bharat RE Insurance Brokers to take the lead with its insurance offering.
Solar Panel Insurance Plans
This Warranty Insurance Package Covers Solar Photovoltaic Modules
Trend Themes
1. Solar Panel Warranty Insurance - Bharat RE Insurance Brokers is introducing a new warranty insurance program that covers solar photovoltaic modules in India, which indicates opportunities for more insurance companies to provide similar services in other countries.
2. Renewable Energy Adoption - The Indian government is encouraging and incentivizing companies and individuals to adopt sustainable technologies such as solar photovoltaic modules, which presents opportunities for more companies to expand their renewable energy solutions.
3. International Insurance Collaboration - Bharat RE Insurance Brokers aims to work with international underwriters to offer similar packages in India, which shows opportunities for global insurance companies to collaborate and expand their services.
Industry Implications
1. Insurance - The launch of Bharat RE Insurance Brokers' new warranty insurance program for solar photovoltaic modules in India shows potential for insurance companies to explore and invest in renewable energy sectors.
2. Renewable Energy - The Indian government's push towards promoting the adoption of renewable energy such as solar photovoltaic modules presents opportunities for companies to invest in research, development, and expansion of renewable energy solutions.
3. International Trading - Bharat RE Insurance Brokers' plans to partner with international underwriters to offer similar packages in India demonstrate opportunities for international trading and collaboration.