This episode on green building insurance was filmed live at The Lakewood Chamber of Commerce March Industrial Lunch Meeting, at the Ramada Inn, in Toms River, NJ Green Building and becoming LEED Certified are areas of tremendous growth throughout the United States and the world. As with other growth, Insurance companies have been reactive and slow to respond to the needs of green building owners, green building developers, and green design professionals. Having adequate green insurance with proper replacement value is critical in limiting green insurance exposure. It is very important that your insurance agent have knowledge of green insurance. Green buildings have special qualities which often require green coverage enhancements not included on standard insurance policies. Green insurance issues include the costs of alternative water and energy systems, business interruption, the cost of building commissioning, costs associated with green certification after reconstruction. Much of the risk associated with green building comes from the design services, including guarantees and warranties of LEED certification. What is LEED certification? In the United States and in a number of other countries around the world, LEED certification is the recognized standard for measuring building sustainability. Achieving LEED certification is the best way for you to demonstrate that your building project is truly “green.” The LEED green building rating system, developed and administered …
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