Provides cover for environmentally friendly reconstruction of damaged property
XL Insurance, the global insurance operations of XL Capital, has launched a green building cover enhancement in the UK. The policy endorsement is designed to help companies rebuild their properties, following an insured loss, using best practice sustainability criteria, the insurer said.
The Sustainable Property Endorsement provides additional cover for an environmentally friendly reconstruction of damaged property based on the specifications of the highly respected UK Building Research Establishment's Environmental Assessment Method (BREEAM). The new cover also pays for an assessment by a BREEAM qualified surveyor, following an insured loss.
Peter Smithdale, property underwriting manager UK for XL Insurance, said: "This innovative cover extension helps to provide a practical solution to a global issue. The endorsement provides clients with incentives, following a loss, to deal with environmental issues within their building portfolio. Green building is more than just a growing trend and we are pleased to support companies in achieving their environmental goals by offering products that provide tangible value to them, as well as the planet."
Martin Townsend, director of BREEAM said: "Sustainable building design focuses on reduced energy costs and greenhouse gas emissions while improving the working environment, resulting in long-term benefits for all. BREEAM helps companies to incorporate the latest concepts on sustainability and resource efficiency, when considering the building and operation of their premises."
