We have formed a committee to review the Green Building Coverage forms from Fireman's Fund, Liberty, Affiliated FM, Deans & Homer, Traveler's, Philadelphia, Zurich, and several other carriers referenced in the just released Cere Report. Our second challenge is to craft a manuscript Green Building endorsement to be exclusive and propritary to InterWest and we will
ask other carriers if they will consider. Initial thought is to develop a "bucket endorsement with optional limits of $250,000, to be priced at $250, $500,000 to be priced at $500, $750,000 to be priced at $750, incrementally to 8% of Building coverage for a flat rate of $1.00 per thousand. Bucket coverages to include commissioing expense, upgrade 1 level of LEED in the event of a loss of 51% or more, increased limits for trees, plants, and shrubs to $10,000 per item, special endorsement for water reclamation systems, special credit for Dtection.com system installation, and provisions for LOW VOC carpet, paint, and other "green" materials,
and air filtration and flusing coverage, all subject to underwriting criteria.
Underwriting criteria: Credits for CASp reports and remediation plan, credit for Dtection.com, and other technologically advanced life safety systems. Newer construction, LEED EBOM completed properties receive subjective credits based on certification from LEED professionals and verification of Professional Liability cover for architects, engineers, and all consultants who work on the project with SAE 202 coverage language, and other factors to be determined.
