AIG Rolls Out "Green" Building Coverage

November 26, 2008 ( - If your building is "green", AIG has a new insurance product line for you.

AIG Risk Management (AIGRM), a unit of AIG Commercial Insurance, has announced its AIGRMGreen product line, a component of AIG Real Estate Solutions. The primary casualty coverage for property owners and managers of green buildings consists of two coverages; AIGRMGreen Reputation Coverage and AIGRMGreen Indoor Environment Coverage.

AIGRMGreen Reputation Coverage provides up to $50,000 in coverage, per occurrence, for crisis management consultant costs resulting from management of what the announcement described as “a reputational crisis” that occurs when a green building experiences adverse publicity. Specifically, according to a press release, AIGRMGreen Reputation Coverage provides funds to employ crisis management specialists to manage adverse publicity; guide and counsel key company personnel; and provide other necessary services to assist in restoring a company’s reputation.

Indoor Environment

AIGRMGreen Indoor Environment Coverage protects against claims of bodily injury caused by any substance or odor produced by or originated from a green building’s specialized equipment used to improve air quality or water quality control. While such equipment is critical to green certification, loss resulting from this type of equipment is typically not covered in standard policies, exposing the building owner to a gap in protection, according to AIG.

Pre-event and during-event consultation services, which may include crisis planning and response, crisis management and on-site support, are also available under AIGRMGreen coverage. As soon as an event occurs, customers have immediate around-the-clock access to green claims specialists who provide such services through The AIG Green Hotline.

AIGRMGreen Reputation Coverage and AIGRMGreen Indoor Environment Coverage are available as endorsements to AIGRM general liability coverage customers who own or manage buildings that comply with green building standards established and recognized by an industry authority, such as LEED (Leadership in Energy and Environmental Design), which is the certification program of the U.S. Green Building Council (USGBC).

To learn more about the new green endorsements from AIGRM, contact Joe Fobert at 813-222-4833