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LDK Solar And Solarif Partner To Introduce The First Operational And Warranty Insurance Covered By HDI Gerling

Stocks in this article: LDK

XINYU CITY, China and MUNICH, June 15, 2012 /PRNewswire/ -- LDK Solar Co., Ltd. (NYSE: LDK) ("LDK Solar") a leading vertically integrated manufacturer of photovoltaic (PV) products, together with its partner Solarif, a fully mandated underwriter of HDI Gerling for PV insurance, are the first companies to introduce a unique insurance solution at the system level.  LDK Solar announced the new 'Secure' offer at Intersolar Europe, the world's largest solar industry exhibition taking place in Munich from the 13th – 15th of June.

LDK Solar Secure provides customers with a complete insurance package combining an operational 'All Risk Insurance' with a warranty and inherent defect insurance.  It includes a full backup of LDK Solar Product and Power Warranties on PV modules.  Additionally, the embedded All Risk Insurance applies to all other components of the PV system.

The insurance package is covered by HDI Gerling, an A+ rated insurance company and one of the largest German insurers of property and casualty.  As an independent third party, Solarif completed a successful audit of LDK Solar's manufacturing process and product quality.

LDK Solar Secure insures a qualified warranty claim for any case and includes the following advantages:

  • 100% coverage of all sold products on the European continent without hidden limited coverage;
  • 100% transparent policy conditions for easy check by banks or other interested parties;
  • Solarif audited and certified LDK Solar product quality reinforcing bankability and bank financing;
  • Compensation of production loss during warranty exchange period; and
  • Coverage of labor and transportation costs for module replacement of valid warranty claim.

LDK Solar Secure will be offered initially to commercial customers.  LDK Solar 'Professional Series' customers receive 1-year All Risk system insurance with a 5-year insured warranty and inherent defect option inclusive in the product price.  LDK Solar 'Value Series' customers receive 1-year All Risk system insurance with a 1-year insured warranty and inherent defect option included.  The insurance package can be extended after the initial coverage by LDK Solar for up to a maximum of 20 years.

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