| Copyright: | Business Wire | | Source: | Business Wire | | Wordcount: | 673 |
Business Editors/Environment Writers
NOVATO, Calif.--(BUSINESS WIRE)--July 8, 2008--Fireman’s Fund Insurance Company – the nation’s first provider of green insurance for commercial buildings – will launch green insurance for homeowners starting this summer.
This is the first-ever admitted green insurance available to homeowners in the United States. Setting a new standard, Fireman’s Fund (www.firemansfund.com/green) is offering this innovative product to homeowners who currently own green homes or who want to upgrade their residences with green features after a loss using environmental safety and efficiency standards. If a home is completely destroyed, it can be rebuilt to green standards, certified as having Leadership in Environmental and Energy Design status (LEED ®, www.usgbc.org/leed).
“We believe this is a trend-setting insurance solution for homeowners who are interested in the many benefits of ‘going green’ at home,” said Donald Soss, chief underwriting officer for Fireman’s Fund Personal Insurance.
Homeowners whose residences are already green will be offered a five percent discount on this coverage, applied to the homeowner premium.
A green home uses less energy, water and natural resources, and creates less waste. Studies have shown that residents have better overall health and productivity as a result of reduced exposure to mold, mildew and indoor toxins. According to the National Center for Healthy Housing (www.centerforhealthyhousing.org), homeowners can expect substantial health gains by building green.
With this new coverage, homeowners will be able to rebuild and replace with green alternatives such as:
Energy Star ® -rated appliances, lighting, electronic equipment and roofing/insulation
An Energy Starupgrade of heating, ventilation and air-conditioning systems
Forest Stewardship Council (www.fcsus.org) certified wood for millwork, ceilings, siding and framing, including bamboo flooring
Non-toxic, low odor paints and carpeting
Water-saving plumbing fixtures
Elimination of ozone-depleting refrigerants and fire extinguishing agents, replaced with environmentally friendly alternatives
Debris removed after damage to a home will be recycled and diverted from landfill
The green homeowners insurance is now approved for homeowners in 26states (Arizona, District of Columbia, Delaware, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Missouri, Nebraska, New Jersey, Nevada, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington, Wisconsin and Wyoming), with most other states expected to offer the coverage by year-end. The Coverage will be available in California as part of the Prestige® Home Premier Policy on August 1.
Fireman’s Fund was the first property and casualty insurance firm to offer green insurance to the U.S. commercial marketplace, introduced in fall 2006. It gave the first financial incentive for green building owners – a five percent discount on the policy premium – for LEED-certified buildings. Vegetated roofs, plumbing and electrical systems, commissioning and the costs for green recertification fees for previously certified buildings are all included coverages that fill the gaps in traditional insurance policies.
The company’s Commercial insurance division has expanded its green offerings to include historic buildings, hotels, restaurants, manufacturing facilities and commercial auto. Its Specialty insurance division also offers green coverage for commercial buildings that are under construction.
Fireman’s Fund was recently recognized by the Environmental Defense Fund for its contributions to the green movement in a new report, “Innovations Review 2008: Making Green the New Business as Usual” (www.edf.org/InnovationsReview). Fireman’s Fund was the only insurer highlighted in the report that includes the latest trends and best practices that demonstrate how environmental sustainability efforts are creating new markets and providing competitive advantages.
About Fireman’s Fund
Fireman’s Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide. It is rated ‘A+’ by Standard & Poor’s Rating Services. Fireman’s Fund is a member of the Allianz Group (NYSE:AZ), one of the world’s largest providers of insurance and financial services. Allianz ranks as the most sustainable insurer in the Dow Jones Sustainability Index based on its economic, social and environmental performance. For additional information, visit www.firemansfund.com.
© 2008 Fireman’s Fund Insurance Company, Novato, CA 94998
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