Over the past week, we have been discussing AIG’s AIGRMGreen Reputation Coverage. I had speculated that this insurance might cover bad press resulting from allegations of greenwashing.
Turns out, AIG’s insurance product covers more than just bad press.
Mark Rabkin, my green building insurance guru, located a copy (PDF) of the AIGRMGreen Reputation Coverage. From my reading of the policy, it would actually cover a green building project that failed to achieve LEED certification. Come along with me as we read an insurance policy. Don’t worry, I have only picked out a couple of sections:
So what is considered an "adverse green claim"?
I have been clamoring for this type of insurance policy for awhile. I thought it would take much longer to create. This is an important first step to properly insuring owners, contractors and architects involved with projects seeking LEED certification.
We will definitely be discussing this policy in more detail. Take a look at the policy (PDF) if you get a moment. What do you think?