With green building construction starts expected to increase 400% in the next two years, Liberty Mutual Property, part of Liberty Mutual Group, has introduced green commercial property insurance for LEED or Green Globe certified buildings.
The company’s Green Select endorsement provides insurance for building recommissioning and/or recertification fees, vegetative roofing systems, debris recycling and the use of green-certified products.
It also covers the costs to recertify a building one level higher than its previous certification in the LEED Certification Program or Green Globe Certification Program.
The endorsement can also be applied to non-green properties, giving owners the extra money necessary to upgrade certain aspects of their property to green, in the event of loss.
Tim Rose, president of Liberty Mutual Property, said, "Green Select addresses issues such as the longer restoration times required for green-certified buildings and allows our customers to decide how best to allocate their resources if they choose to upgrade to green building materials."
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