Maximizing the Green in your Business

Some insurance companies are offering discounts for energy efficient and sustainable buildings. Structures that conform to green building standards tend to have a lower energy load from energy efficient lighting, which reduces the risk of fire. More durable, energy efficient windows also stand up better during storms. Insurance companies are taking these factors into account not only for residential buildings but also office complexes, factories and other commercial buildings.

Liberty Mutual Property offers a "GreenSelect" policy, which protects the typically more expensive energy efficient upgrades in the case of a loss. GreenSelect also pays the charges associated with re-certifying buildings to new, higher standards of LEED or Green Globes Certification Program.

Another emerging type of policy protects a company's board of directors from claims that the company has caused environmental damage.

As we see there are many ways for companies to go green; energy audits, developing a guide to environmental compliance or recycling, but all sustainable business strategies need to incorporate insurance as well ......... after all sustainability means to keep going and insurance policies can help companies do just that.