Better Green™ builders risk endorsement from Zurich encourages property owners, designers and contractors to ‘go green’

SCHAUMBURG, Ill.--(BUSINESS WIRE)--Zurich, a leading commercial property and casualty insurance provider in North America and globally, today announced the introduction of Better Green™, a builders risk green property endorsement, the first in a series of green building-related coverage products in development. The Better Green endorsement can provide North America insureds with coverage to address some of the loss exposures and expenses unique to green buildings during the course of construction or renovation.

“As a global insurer, Zurich’s core skill is risk; climate change is all about risk. This green coverage enhancement is an excellent example of Zurich using its skills in risk evaluation, assessment and management to help our customers and stakeholders to adapt to and mitigate the risks of climate change”

Better Green coverage applies to insured projects that incorporate products, building features or building techniques from one or both of the following standards:

• LEED® Green Building Rating System™ of the U.S. Green Building Council or
• Green Globe Assessment and Rating System

Coverage extensions can include payment of expenses associated with:

• Air quality management
• Consulting with a LEED accredited professional
• Payment of recertification fees
• Building commissioning
• Debris recycling

Zurich’s Better Green endorsement encourages property owners, designers and contractors to go green. This endorsement allows for reconstruction based on the current LEED rating criteria in force at the time of loss.

“As a global insurer, Zurich’s core skill is risk; climate change is all about risk. This green coverage enhancement is an excellent example of Zurich using its skills in risk evaluation, assessment and management to help our customers and stakeholders to adapt to and mitigate the risks of climate change,” said Lindene Patton, chief climate product officer.

Zurich is committed to developing products and services addressing climate risks. The company established a Climate Office earlier this year to ensure a consistent approach to the identification and management of climate-related risks.

Better Green is intended to meet the needs of building owners and contractors in the course of a building construction or renovation project. It also enables insureds to be more socially responsible and help contribute to a better environment.

About Zurich

Zurich’s North America Commercial and Global Corporate in North America business divisions are part of Zurich Financial Services Group (Zurich), an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries. In North America, Zurich (www.zurichna.com) is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors.