KUALA LUMPUR (Jan 20): Clean energy specialist Solarvest Holdings Bhd, insurers QBE Insurance (Malaysia) Bhd and Anora Agency Sdn Bhd collaborate to provide solar photovoltaic (PV) investors a solar investment insurance product, namely the SolarPro Line-Stoppage insurance policy. The solar investment insurance product, namely the SolarPro Line-Stoppage insurance policy, is a comprehensive general liability policy with consequential loss underwritten by QBE Malaysia, through Anora. According to the three companies, this insurance product is aimed to offer solar PV investors better coverage to ensure business continuity and peace of mind. The trio highlighted that despite the growing market size of solar PV systems in the nation, there remains a gap in the market when it comes to a truly comprehensive insurance policy for solar PV investors. Chong added that comprehensive insurance coverage would markedly reduce the risk of solar PV system investments, which will in turn encourage a greater flow of funds into the solar industry and enable higher adoption of solar energy.

Source: The Edge Markets January 20, 2022 20:42 UTC