Environmental issues and green construction have a few points of intersection in the insurance marketplace. When it comes to risk exposure, green construction techniques—new types of building materials, natural roof coverings, or even indoor water features—have raised concerns about how those components might impact mold, air quality, and other potential environmental issues.
When it comes to coverage for green construction, several environmental insurers have made options and endorsements available to cover the cost of LEED-certified upgrades connected to cleanup and restoration.
“Four to five years ago, all anyone wanted to talk about was green. We used to get calls all the time about how to price green endorsements based on the cost to retrofit commercial properties. But in the past year and a half it's been eerily quiet,” says Steve Brewer, senior vice president of underwriting solutions at MSB, which provides pricing data for green building as part of its property-valuation solution.
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