A green insurance plan
Lexington Insurance Co. has introduced Upgrade to Green Commercial, an insurance plan that allows for the rebuilding of sites with green construction practices.
Lexington Insurance Co., Boston, has introduced Upgrade to Green Commercial, an insurance plan that allows for the rebuilding of sites with green construction practices. The insurance company will cover the expenses of sustainable building practices and other eco-friendly materials, along with paying the costs of recycling during reconstruction and at the time of loss.
The coverage will extend to both LEED and non-LEED certified buildings. For partial losses, the coverage focuses on energy, water, IAQ, and sustainable products. In the event of a total loss, LEED certified buildings will be able to upgrade to the next level of certification and non-LEED buildings will be able to achieve the LEED Silver standard.
Upgrading to their Green Commercial coverage will include the implementation of Energy Star-qualified office equipment; sustainable materials, such as bamboo and eucalyptus in the cabinets and desks; and reduced-emission paints, adhesives, coatings, and furniture that will lower the VOC’s impact on the air quality.
The policyholders can retain a LEED-accredited architect or engineer to be on hand for design or construction, and the insurance plan covers the registration and certification fees for LEED facilities that would need to be re-certified.