Providing insurance services with the philosophy of “specialization”, Quick Sigorta applies the same approach to its most recent GES Insurance (Solar Power Plant Insurance) product.  Ahmet Yaşar, General Manager of Quick Sigorta, shared his comments on the GES Insurance and the insurance requirements of solar power centrals. Turkey has begun to understand the value of solar power in recent years as one of the best solutions against global warming. That’s why, the number of solar power plants increases on a daily basis; and they seriously need insurance.

Unlike many other insurance companies, Quick Sigorta offers GES insurance in accordance with its own philosophy by customizing it according to customer requirements. “In the insurance business, you must listen to and understand your clients, and offer them customized services. We offer this insurance product within the scope of a special program. It is not a package of policies, but rather a program that includes customization and specialization. Every facility is located in a different place under different geographical circumstances; therefore each central owner has different requirements. That’s why we need to listen to the owners, constructors, assemblers, and investors carefully; and draw up policies that is customized for their needs and for the circumstances surrounding their facilities,” said Ahmet Yaşar, General Manager of Quick Sigorta.

In Turkey, the state guarantees to buy electricity from solar power plants. Therefore, unlicensed electricity producers sell it to the government. In this system, the price and buyer are pre-determined. Currently, anyone can produce electricity without getting a production license up to 1 megawatts. You need license to produce electricity over 1 megawatts. The GES Insurance we talk about generally consists of unlicensed power plants that produce up to 1 megawatts of electricity. Construction of such power plants nearly costs 1 million 250 thousand USD. total insurance premiums amount to approximately 5 thousand USD for an average 18-moth package. Recently, more insurance companies have entered in this market, but with standard products. In this area, Turkey has special problems and requirements of its own. What we mean by specialization and customizing products to address customer requirements is being flexible, protecting policyholders from being victimized by complex technical terms and standing up for their rights. In this line of business, you need to understand the needs of the field very well. Our motto is to ‘place a premium on goodwill’.”

Yaşar added that one of the major problems in solar power is the theft of power plant cables:   “Since the copper wires used in those plants are highly valuable, they attract thieves frequently. Think for a minute that the hail events in İstanbul hit one of the solar panels. Crows are a totally different risk. Crows constantly pick-up and intentionally drop walnuts so that they can break and eat them. They can easily break panels, if hit. But the biggest risk is the snow weight accumulated on solar panels in areas with heavy snowfalls during winter. It bends the bearings of the panels. Being struck by lightning is another issue. For these plants, not using lightning rods is better than using them; because you immediately amplify the risk the moment you install it. We try to learn all those risks from the investors, analyze them properly and create an average price that will address them the best. That is why we can provide coverage for such risks. Currently, we are working on the low performance issues due to radiation. This means that we will even be able to provide coverage against the risks posed by the sun itself,” he said.