Allianz General offers solar PV insurance to Malaysians

It provides income or savings compensation during system breakdown.

Allianz General Insurance Company (Malaysia) Berhad has teamed up with TNBX Sdn Bhd, a subsidiary of Malaysian multinational electric company Tenaga Nasional Bhd and Anora Agency, to offer SuriaShield insurance, a jointly owned brand by TNBX and Anora Agency, to solar photovoltaic (PV) users in Malaysia.

SuriaShield is an affordable residential solar PV insurance that provides a comprehensive 360° protection, cashless repair and restoration, and income or savings compensation during system breakdown.

To solidify the partnership, the Tripartite Collaboration Agreement was signed by TNBX Managing Director Ir. Nirinder Singh Johl, Allianz General Chief Executive Officer Sean Wang and Anora Chief Executive Officer Samuel Soon. As part of the partnership, Allianz General and Anora are to develop and underwrite SuriaShield for TNBX, which will be marketed and made available on any channels used by TNBX.

TNBX, in collaboration with Anora, will also be offering a one-year RM10,000 personal accident coverage underwritten by Allianz General to the first 1,000 SuriaShield customers.

“As insurers, we have an important role to play in driving the adoption of renewable energy and supporting the desire to convert to solar power. Through our continued partnership with Anora, we can provide comprehensive protection for solar PV owners, and now with TNBX, we have access to yet another platform and the opportunity to serve an exciting new customer base,” Allianz Malaysia Berhad and Allianz General CEO Wang said.

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