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Member, Beacon International Group, Ltd.
India-based ICICI Lombard General Insurance Co. Ltd. has launched an insurance product for solar park developers offering cover for at least 15 years from the start date of commercial operation, Money Control reported. The Solar Panel Warranty Insurance provides cover to the park owner as the insured and sole beneficiary. The policy safeguards the insured against performance degradation of photovoltaic modules under performance warranty due to faulty manufacturing, material defects and material ageing.