New Green Insurance Available.

24 Jun 2010

Residential building in Vancouver, BC. Photo Credit: NNECAPA

Fireman’s Fund Insurance Company (the first property and casualty insurance company to offer green insurance to the U.S. commercial marketplace) has announced that it has expanded its insurance offerings to include the “next generation of green insurance endorsements.” The new insurance broadens Fireman’s existing green coverage and provides protection for incentives impacting taxes, utilities, loans and other items related to green installations and upgrades. Fireman’s claims that the additional coverage is the first of its kind in the marketplace.

If you construct a certified green building, it only makes sense to obtain insurance coverage which will allow you to restore or rebuild it at the same or higher level of certification that existed prior to the loss or damage. The new coverage also protects the insured for loss in the event that the policyholder is required to pay back a tax incentive, loan or other benefit that initially helped them pay for an energy efficient improvement. I bet we will be seeing more and more insurance companies offering this kind of coverage as the green construction industry continues to grow.

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