Panels are unlikely to fail if they have been installed correctly. Vandalism or "acts of God" are another issue and may be covered by the householder's insurance.
Replacing a panel with another of the same make and model should be ok (assuming they are still available). Actually, it may be better in 10 years to install a panel with 5w less to account for the slight degradation of the other panels in the string.
You are not covered by your insurance for consequential loss, they would cover for the replacement of the system, but if that violated your tariff in some way, it would not cover for those losses.
You are required to maintain your system, i have read the contract and it states that if you do not notify them, they can come and back date any monies that they feel have been taken from the scheme from that point. If you have to maintain the system and the repairs make the system the same, i doubt they would be able to come back to you for it.
You do notify the SSEG with your system details at the point of installing the system, it wouldnt take them more than a few minutes to see what inverter etc you are meant to have as its on the system sheet/diagram etc.