The Ministry of of New and Renewable Energy (MNRE) has published a revised list of insurers that are providing insurance products to solar power plants for various associated risks. This circular was issued on February 26, 2024.
It may be recalled that MNRE’s prior list was dated January 7, 2020. This list was first created through consultations with Department of Financial Services (DFS) and Insurance Regulatory and Development Authority of India (IRDAI).
The MNRE has received several representations requesting updates to this list, hence the MNRE has now published a revised list of insurers.
This list enumerates the following 6 insurers and products:
| Insurer | Product Name |
| The New India Assurance Co ltd | New India Solar Energy Insurance Policy |
| Tata AIG General Insurance Company Limited | Weather Insurance Policy and Solar Module Warranty Insurance |
| HDFC ERGO GICL | Solar Panel Warranty Insurance |
| ICICI Lombard General Insurance | Photovoltaic Panel Warranty Insurance |
| IFFCO-Tokio General Insurance Co. Ltd. | Photovoltic Sales Policy |
| Cholamandalam MS GICL | Chola Solar Plant Protect Policy |
