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Insurance Policy Helps Businesses Stay Green

Insurance Policy Helps Businesses Stay Green











Warren, NJ (Vocus) December 9, 2008

If your business was green before a loss, it will be green after a loss. That’s the message behind a new endorsement to the commercial property insurance policies from the Chubb Group of Insurance Companies.

“For years, Chubb has been a leader in insurance protection for green buildings through its commercial property insurance policies,” said Peter Thompson, vice president, Chubb & Son, and worldwide energy manager for Chubb Commercial Insurance. “However, some of our customers didn’t realize that as their businesses increasingly take steps to protect the environment, their Chubb commercial property insurance policy would automatically protect their ‘green’ investments if there was a loss. Our new endorsement highlights this important product feature.”

Since 1994, Chubb’s commercial property insurance policies have insured green features on a replacement-cost basis. These features include vegetative roofs, solar panels, geothermal systems, wind turbines, groundwater collection systems and Energy StarTM equipment. The policies also provide:

Business income and extra expense insurance, which can help companies with green properties quickly restore their operations after a loss. For example, an insured business can be reimbursed for the extra expense it incurred to purchase power from a public utility until its alternative power-generating equipment is repaired or replaced.
Reimbursement for the costs of hiring an accredited design and reconstruction professional, registration and certification fees, diverting recyclable debris after a loss to recycling facilities rather than landfills, and other green services.
A period of restoration that recognizes that it may take longer to rebuild a green building to its pre-loss condition than a typical office building and, therefore, take longer to restore business activity and revenues.
Thompson added that the technology behind developing green building standards is changing rapidly, and that government intervention worldwide is helping to accelerate the green building market. The market value of new green building construction this year is more than $ 12 billion and is expected to be $ 60 billion by 2010, according to McGraw-Hill Construction Greening of Corporate America SmartMarket Report.

For more than 20 years, Chubb has been insuring renewable energy producers and distributors, including wind turbines, ethanol and biodiesel plants, solar energy systems, hydroelectric power generators and other renewable energy operations. Chubb loss control and underwriting specialists have completed Leadership in Energy and Environmental Design (LEED) professional accreditation to help identify, develop and advance the loss control programs for green buildings and other property.

The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.

Chubb Group of Insurance Companies

15 Mountain View Road

P.O. Box 1615

Warren, New Jodi Dorman

(908) 903-2608

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Find the Best Building Insurance Businesses via an Agency That Cares

Article by trans rave







Your building investment whether or not apartments, company premises, offices, warehouses or any other can attract the best building insurance policy that saves your cash if you use the services of a reputable insurance agency. A caring agency generally represents the best insurance businesses in order to ensure your building property gets the ideal match of an insurance cover. At an insurance marketplace where prices are constantly changing, you require a partner that dedicates time and effort to find for you the most attractive offers. This is usually very crucial especially when your current policy is up for renewal and the rates with the present company have increased. Your insurance agency will usually come in to save your scenario by securing a new policy with an additional insurance business and informing you of any price savings to your company. An agency knows the business better and consequently knows the building insurance policy that will ensure the best and cost effective cover for you in a given duration of time.

As a property owner, you need to have a peace of mind concentrating to your core business while permitting the best insurance agency to do what it does best. The agency represents multiple companies and perfectly matches their services to the customers needs concerning building insurance policies. You can’t do it alone without the agency simply because they know how to scan the market better and their bargain power for the best insurance policies across the industry is definitely higher. Because of the increasing demand to operate much more efficiently, numerous agencies will obtain calls from customers willing to renew their policies. There are numerous risks associated with both apartment and commercial buildings which the owners might not be fully conscious when purchasing insurance policies. An agency is better placed to compare offers from different companies taking not of their value and any hidden expenses so as to give the best proposal to the client.

The building business has transformed a lot over the years with building insurance requirements increasing. Owners of apartments and commercial buildings have to be protected against much more risks than it utilized to be the case. When you put up a building, depending on your costs of that investment and the opportunities to maximize the value you get back should be well managed because unforeseen risks may finally merge and make a challenge for your to profit from your property. An insurance agency takes the worries from you so even if you have to own numerous buildings you won’t have to compromise the safety of your investments against diverse risks which present themselves in extremely different methods. Get the correct building insurance for your property and at least increase your profitability and keep the losses away.



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