IRVINE, Calif.--(Business Wire)--
PowerGuard Specialty Insurance Services - a Managing General Agent and Lloyds
cover holder specializing in unique insurance and risk management solutions for
the wind and solar energy companies - today announced the formation of a
marketing alliance with Chartis` Global Marine and Energy Division. The alliance
will combine PowerGuard`s innovative PowerClipTM warranty product and extensive
underwriting expertise with Chartis` leadership in the renewable energy sector
worldwide.
The PowerGuard - Chartis alliance can provide $400 million in property capacity.
In addition, it offers comprehensive underwriting, loss control and claims
expertise for property, cargo and casualty coverages across the entire value
chain within the wind and solar energy sectors, including OEMs, project
developers and power generation operators.
"This one-of-a-kind marketing alliance delivers something truly exciting to
companies in the rapidly growing solar and wind markets," said John Hahn,
president of Edgewood Partners Insurance Center, who created the PowerGuard
facility in collaboration with Mike McMullen, PowerGuard`s managing principal.
"This is a unique facility that can offer capacity, breadth and scope of
coverage, as well as innovative products and global claims and engineering
excellence."
For more information, please contact Mike McMullen, managing principal of
PowerGuard Specialty Insurance Services at mmcmullen@powerguardins.com or Tim
Kinsella, senior vice president and group leader of Advanced Energy Solutions, a
unit of Chartis` Global Marine and Energy Division at
tim.kinsella@chartisinsurance.com.
About PowerGuard Specialty Insurance Services
PowerGuard is a Managing General Agent and Lloyds cover holder specializing in
the design and underwriting of unique insurance and risk management solutions
for wind, solar and other alternative energy companies. Its founders and
principals have more than 20 years of experience providing innovative products
and services to meet the rapidly evolving needs of the energy business.
PowerGuard`s proprietary warranty product - PowerClip - is the most
comprehensive contractual liability coverage available to wind turbine
manufactures, wind farm owners / operators and the financial institution and
private equity firms who invest in them.
About Chartis
Chartis is a world leading property-casualty and general insurance organization
serving more than 40 million clients in over 160 countries and jurisdictions.
Chartis is the marketing name for the worldwide property-casualty and general
insurance operations of Chartis Inc. For additional information, please visit
Chartis` website at http://www.chartisinsurance.com. All products are written by
insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be
available in all jurisdictions and is subject to actual policy language.
Non-insurance products and services may be provided by independent third
parties. Certain coverage may be provided by a surplus lines insurer. Surplus
lines insurers do not generally participate in state guaranty funds and insureds
are therefore not protected by such funds.
PowerGuard Specialty Insurance Services
Mike McMullen
949-417-9191
mmcmullen@powerguardins.com
or
Courtenay Dulak
949-209-8871
Courtenay@dmpublicrelations.com
Copyright Business Wire 2009
