As the green building movement forges ahead, Fireman's Fund Insurance has taken a bold and creative step by becoming the first insurance company to offer a "Green" insurance for altenative and LEED-certified commercial buildings.
Launched in 2007, Green-Guard Property Upgrade covers new green construction as well as traditional buildings that have gone through sustainable retrofits using materials such as non-toxic low VOC paints and carpets, Energy Star rated electrical systems, and LEED certified interior lighting systems.
As reported in the January issue of New Jersey & Company magazine, Heritage Management
Company is the first real estate investment firm in New Jersey to purchase this policy for all its 6.5 million square feet of commercial space currently in the process of undergoing green renovation and upgrading.
Obviously, Fireman's Fund won't be the only company to offer this kind of insurance, and Heritage won't be the only real estate company to purchase it. But to see one company take advantage of another company's foreward-thinking approach will definitely open up the marketplace to many more like-minded alternatives.
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· http://wright.ccc.edu/department/etp/build.asp I routinely pressed for insurance companies to provide premium reductions to clients who went above and beyond fedral, state, and local requirements, because such progressive actions clearly made the facilities cleaner, safer, and less likely to suffer an insurance-covered loss of value. Most insurers, however, provide for premium increases for not meeting requirements, but no decreases for exhibiting a higher level of managerial responsibility.
This action by Fireman's Fund Insurance is an important step in promoting sustainability, and in effect, shortens the payback period for building owners and operators incorporating sustainability measures into their constructions. I applaud them.
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01/17/08 @ 09:27 
