Aviva and Howden have collaborated to offer a bespoke insurance coverage coverage to Sunsave, a start-up providing a photo voltaic panel subscription service to owners.
The brand new development and operation cowl helps the UK’s first photo voltaic subscription mannequin, which noticed its first photo voltaic panel set up accomplished in February.
As per the announcement, the tailored insurance coverage coverage is crafted to swimsuit the necessities of Sunsave’s enterprise mannequin.
It ensures that buyer subscription charges are protected in case of harm to photo voltaic panels.
To facilitate the anticipated development in installations, Aviva mentioned it has streamlined its processes for brand spanking new set-ups.
The partnership aligns with the sustainable targets of each Aviva and Howden.
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By offering insurance coverage, threat administration options and knowledgeable recommendation, they goal to bolster the nation’s inexperienced power transition.
Aviva has been actively participating with purchasers on local weather initiatives, providing insurance coverage and threat administration options to firms transitioning from high-carbon fuels.
In 2019, Aviva launched an insurance coverage package deal tailor-made for big firms working within the renewable power sector, together with wind, photo voltaic, and battery storage.
Howden’s Energy & Renewable Power crew oversees insurance coverage for greater than 280GW of energy property globally, together with greater than 100GW of renewable power initiatives.
Its portfolio encompasses a various vary of power sources, from wind and photo voltaic to biomass and hydropower.
Aviva deputy head of renewable power Nick Evans mentioned: “All of us have an necessary position to play in supporting the transition to internet zero and bespoke insurance policies like this can assist to encourage environmentally pleasant concepts to grow to be actuality.”
Sunsave co-founder Ben Graves mentioned: “We’re delighted to have labored with Aviva and Howden to place in place an revolutionary insurance coverage cowl enabling us to launch the UK’s first photo voltaic subscription service. This cowl supplies peace of thoughts for our prospects and marks one other necessary milestone in bringing the ability of photo voltaic to all households throughout the UK.”
In the meantime, final month, the UK’s Competitors Markets Authority initiated an investigation into Aviva’s proposed acquisition of AIG Life UK to find out whether or not this deal might cut back competitors inside the nation’s insurance coverage trade.
