KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) wholly-owned subsidiary TNBX Sdn Bhd is collaborating with Allianz General Insurance Company (M) Bhd and Anora Agency to offer residential solar photovoltaic (PV) insurance, SuriaShield.

       In a joint statement, the partners said SuriaShield – a brand jointly owned by TNBX and Anora – is an affordable insurance that provides a comprehensive 360-degree protection, cashless repair and restoration, and income or savings compensation during system breakdown.

       Under the tripartite collaboration agreement signed yesterday, Allianz General and Anora are to develop and underwrite SuriaShield for TNBX, a company that offers solutions in renewable energy and energy efficiency for homes and businesses.

       TNBX managing director Nirinder Singh Johl said the collaboration would pave the way for a better value proposition to solar PV owners, while providing full protection of the assets.

       “As more people choose solar-powered electricity, there is a growing market for solar insurance.

       “TNBX is continually striving to introduce new solutions to improve customer experience and promote Malaysia’s renewable energy growth,” he said.

       Allianz General chief executive officer Sean Wang said with TNBX, it now has access to yet another platform and the opportunity to serve a new customer base.

       “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,” he said. — Bernama