Munich Re creates first turbine guarantee insurance

GERMANY: Insurance company Munich Re has signed a deal with Fuhrländer to insure the wind turbine manufacturer's five-year guarantees.

by Jonathan Tilley 8 February 2011

The insurance will cover guarantees for Fuhrländer FL2500 2.5MW turbines

Fuhrländer gives buyers of its 2.5MW turbines a technical guarantee of five years in conjunction with service contracts.

Munich Re is covering these guarantees and assuming the associated financial risk. It is the first insurance cover of its kind for the wind-energy sector.

Munich Re’s board member Thomas Blunck said: "In Fuhrländer, we have been able to win the first customer for innovative covers of this type in the wind-energy sector.

"Munich Re is thus again the pioneering force in the market, after having also been the first to offer performance guarantee covers for photovoltaic products."