"-possibly due to a power surge." and possibly not I presume. I would not have expected a "power surge" to cause a chip to overheat. (besides - who said it overheated - how was that specific failure diagnosed?)
Recently I had a laptop to look at - symptoms were those of a graphics chip failure - when I opened the laptop up to look, the fan for the graphics chip had never been plugged in!!
Whatever it actually was - I think a laptop graphics chip should not fail after 15 months, and should be repairable/replaced under warranty.