Fireman's Fund, the US arm of German insurance giant Allianz, has introduced Green Building Coverage, bespoke insurance to cover the specific requirements of sustainable building practices.
Fireman’s Fund Insurance Company offers Certified Green Building Replacement and Green Upgrade coverages.
With the launch of the new products Fireman’s says that it is the first and only US insurance company to offer coverages specifically for green commercial buildings, which address the unique risks that are acquired with sustainable building practices.
Under Fireman’s Fund ‘green building replacement, green upgrade, and commissioning coverages,’ commercial property owners and managers are able to rebuild and replace with green alternatives such as non-toxic, low-odor paints and carpeting; energy star-rated electrical equipment and water-efficient interior plumbing.
The real estate industry is generally aware of the benefits of ‘going green,’ but building owners and managers should also be aware of the risks that are unique to sustainable design, said Steve Bushnell, product director at Fireman’s Fund. At Fireman’s Fund, we support and financially cover property owners who are green or would like to go green.