SOFARSOLAR and CHUBB have signed an insurance cooperation agreement regarding the liability and completion of their products. This agreement, which acts as liability insurance for the company’s manufactured goods, means that the global users of SOFARSOLAR will have a guarantee of product competition liability insurance. This insurance covers all types of photovoltaic grid-tied inverters and power storage products produced by SOFARSOLAR – which is a subsidiary of the bigger SOFAR Group in China.
This allows users to feel confident that their products are protected in the event of any potential product malfunctions or personal injuries that may occur. While the contract is in existence, all product defects and damages will be met with compensation. Likewise, this insurance cover also extends compensation to the users of the products if there happens to be any personal injury that comes as a result of a fault in the machinery.
About Product Liability Insurance
‘Product/competition liability insurance’ is a certain type of liability that covers the damages and defaults on a product produced by the manufacturer, physical injury as a result of using the product, or property damages caused as a result of the product’s creation or design.
The product liability risk insured by the insurer is put in place to absolveconsumers of any financial liability if a user happens to suffer from an injury as a result of using the product. In turn, personal injury through a fault in the manufacturer’s product will be covered by the insurance policy, which will also work to cover all related legal fees.
The news that this insurance has been put in place by the company also ensures that users who purchase SOFARSOLAR products will receive a larger amount of protection if an issue does occur. If there is in an incident where a user suffers from a personal injury or financial damage as a result of using any of the inverters or power storage products, they are then entitled to be compensated by the insurance company signed by SOFARSOLAR. The specific terms and conditions of the insurance cover and liability are subject to that of the agreed-upon SOFARSOLAR policy between the subsidiary and the insurer.
SOFARSOLAR is currently one of the top 5 string inverter companies throughout China, and has earned the reputation of being a leader in power storage inverters. As a subsidiary of the SOFAR Group, the company has worked to closely follow the strategic development plan set in place by the corporation since its initial establishment.
At the same time, SOFARSOLAR has focused on promoting and further deepening its global market layout.
SOFARSOLAR has now established service channels on an international scale. With the subsidiary’s outstanding market expertise, alongside its multi-channel sales model, their products are used in over 60 countries around the world.
SOFARSOLAR decided to sign the insurance agreement with the international insurance giant CHUBB to further guarantee the quality of their products. Likewise, the insurance agreement will also work to improve the company’s overall service guarantee so it will be able to then provide a more valuable service for its customer base.