Seems to me that this is a retail broker trying to operate as an underwriting agency. As the majority of the capacity comes from the Lloyd’s market they would need a Lloyd’s broker to place the business as well.
Can anyone tell me what PowerGuard really is? There is no website for PowerGuard and I get directed to Crump Tri-City / EPIC. So, Chartis formed a Marketing Alliance with a Retail Broker…I’m confused???
Good question Steve, I think they also utilize Lloyds capacity for some type of psuedo warranty product. I too went to their website to find out more about the product, but was pointed in the same direction as you were and gave up, but your point is well taken…
After researching a little, PowerGuard is a Lloyds MGA that is in direct competition to GCube or Windpro. They sell through retail brokers unlike Gcube who sells directly to the customer. Competition in the space is needed..might be a wake up call on a monopoly.
I have dealt with the individual(s) at Powerguard; they have very little experience in wind (or other renewables)and are unprofessional. I don’t really understand the partnership with Chartis. Caveat Emptor.
PowerGuard is a Managing General Agent and Lloyds cover holder specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies. Its founders and principals have more than 20 years of experience providing innovative products and services to meet the rapidly evolving needs of the energy business. PowerGuard’s proprietary warranty product — PowerClip – is the most comprehensive contractual liability coverage available to wind turbine manufactures, wind farm owners / operators and the financial institution and private equity firms who invest in them.
Seems to me that this is a retail broker trying to operate as an underwriting agency. As the majority of the capacity comes from the Lloyd’s market they would need a Lloyd’s broker to place the business as well.
Can anyone tell me what PowerGuard really is? There is no website for PowerGuard and I get directed to Crump Tri-City / EPIC. So, Chartis formed a Marketing Alliance with a Retail Broker…I’m confused???
Are they both an underwritng agency owned by a broker?
I tried locating PowerGuard. Do they have a website?
Good question Steve, I think they also utilize Lloyds capacity for some type of psuedo warranty product. I too went to their website to find out more about the product, but was pointed in the same direction as you were and gave up, but your point is well taken…
Thanks Shake & Bake, seems very ambiguous.
Geri – you are hot!
After researching a little, PowerGuard is a Lloyds MGA that is in direct competition to GCube or Windpro. They sell through retail brokers unlike Gcube who sells directly to the customer. Competition in the space is needed..might be a wake up call on a monopoly.
I have dealt with the individual(s) at Powerguard; they have very little experience in wind (or other renewables)and are unprofessional. I don’t really understand the partnership with Chartis. Caveat Emptor.
I have looked into this warranty product, don’t waste your time.
Is this a CRUMP product ? Powergaurd shows up on their Website. No mention of that ? Confusing.
PowerGuard issued their own PR on the alliance with Chartis this morning via Businesswire, which you may find helpful.
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20091116006490&newsLang=en
About PowerGuard Specialty Insurance Services
PowerGuard is a Managing General Agent and Lloyds cover holder specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies. Its founders and principals have more than 20 years of experience providing innovative products and services to meet the rapidly evolving needs of the energy business. PowerGuard’s proprietary warranty product — PowerClip – is the most comprehensive contractual liability coverage available to wind turbine manufactures, wind farm owners / operators and the financial institution and private equity firms who invest in them.
PowerGuard Specialty Insurance Services
Mike McMullen
949-417-9191
mmcmullen@powerguardins.com
interested to know what you mean by “not worth your time”? what part of the warranty is not worth the time?
Its not a warranty product!