Green Insurance Products allow Building Owners to transfer Risk

2009/01/19 in Architecture, Building Performance Analysis, Environment, Policy, Sustainability

More and more insurers see opportunities to increase revenues, reduce risk and enhance their reputation by offering products and services that reward environmentally “friendly” clients. These are particularly focused on green buildings. Such products could have significant environmental benefits, as buildings are responsible for 38 percent of U.S. greenhouse gas emissions and existing technologies can reduce these emissions by up to 50 percent. They can also provide building owners with new options to transfer risk.

For a start, some insurers offer 10 percent discounts on traditional pollution legal liability insurance for Leadership in Energy and Environmental Design (LEED)-certified buildings. As of late 2008, there were 126 LEED-certified commercial projects in Canada, most in Ontario, B.C. and Alberta.

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Article by Dianne Saxe and Jakie Campbell in “The Lawyers Weekly”,Vol.28, No.34

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