•  Clear trend in favour of renewable energy sources

With a new cover for photovoltaic systems, AachenMünchener supports the rising trend in favour of renewable energy sources. The new product was launched in July and covers all risks of electronic damage as well as business interruption for photovoltaic systems.

The development of alternative energy sources scores high in Germany. In particular the conversion of sunlight into electric energy by means of photovoltaic modules is very important. In recent years, this technology has also become increasingly attractive for private persons and the operators of small systems: On the one hand, the costs for photovoltaic systems have nearly halved in the past ten years according to the German Solar Energy Association. On the other hand the state subsidies for photovoltaic systems have favoured a strong rise in energy production by means of photovoltaic modules. The figures published by the Solar Energy Association show that the production capacities for solar energy have increased more then tenfold since 2000.

Product solutions for individual needs
Two different variances of photovoltaic cover are offered: For private persons living in a house for one or two families, AachenMünchener has a particularly attractive comprehensive package of covers meeting the individual requirements of policyholders. For other buildings, a customized tariff at particularly favourably terms and conditions insures systems up to a new value of EUR 500,000 for commercial clients or for the owners of apartment buildings, for instance.

Comprehensive cover for the electronic system
The photovoltaic cover insures the risks and damages directly caused to the photovoltaic system by vandalism, overvoltage, fire as well as environmental impact such as storm or hailstorm. All electronic components, such as the photovoltaic modules, alternating current converters, meters measuring the energy produced and supplied to the energy system as well as the installations providing protection against overvoltage are covered. The new product of AachenMünchener also covers expenses beyond the actual property damage, like the disposal of system elements or masonry works.

Financial security in the case of a system failure
The acquisition costs of a photovoltaic system are in most cases financed by debt. If the system fails to work as a result of a damage, the loan will nevertheless have to be paid back. In order to guarantee liquidity, the photovoltaic cover of AachenMünchener provides a business interruption insurance. For the repair period within the covered term, operators are paid the fees they would have received for supplying the energy normally produced during that period.

Indispensable cover of third-party claims
AachenMünchener also insures the statutory third-party liability resulting from the operation of a photovoltaic system. Such liability may arise, for instance, if photovoltaic modules fall on a third-party vehicle in a storm or if they cause bodily injury to a third party. For private persons in a building for one or two families, this cover is included in the current liability products of AachenMünchener for private persons or for home or land owners. Commercial customers have the possibility of including that cover free of charge in their commercial liability or home or land owners liability policy with AachenMünchener when filing their application form for photovoltaic insurance.


About AachenMünchener:
The companies operating under the name of AachenMünchener are AachenMünchener Lebensversicherung AG and AachenMünchener Versicherung AG. With a premium volume of EUR 3,889.4 m (2007), AachenMünchener Lebensversicherung AG is the second-largest life insurer in Germany . AachenMünchener Versicherung AG is one of the biggest German property/casualty insurers. Its 2007 premium volume amounted to EUR 1,052 m. The rating agencies Standard & Poor's and Fitch Ratings assign AA financial strength ratings to AachenMünchener, which currently are the highest ratings awarded to a German primary insurer. Moody's assigns an Aa3. AachenMünchener is part of the AMB Generali Group.

July 15, 2008

AachenMünchener Lebensversicherung AG
AachenMünchener Versicherung AG

Pressesprecher:
Andreas Krosta
medien@amv.de
Aureliusstraße 2
52064 Aachen
Telefon: (02 41) 4 56-54 81
Telefax: (02 41) 4 56-55 14
www.amv.de