Aon Launches ‘Green Building Property Program’

August 7, 2008

Aon Corporation has launched the “Aon Green Building Property Program,” which it describes as the “industry’s most comprehensive insurance solution to facilitate environmentally friendly and energy-efficient building efforts of commercial property owners and managers.”

The coverage is offered as an enhancement to Aon’s Global Property Policy, and “covers both environmentally certified and non-certified properties, assuring reimbursement for full repair or replacement of certified green building components or enabling property owners to upgrade to environmentally efficient components,” said the announcement.

Under this policy, Aon will ensure that the materials and development of each property meet local mandates for green building, as well as recognized standards such as the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification and the Energy Performance of Buildings Directive in the European Union.

“Businesses face several challenges in green building development, including zoning and building code issues as well as finding the right insurance coverage for their property,” explained Peter Breitstone, CEO of Aon’s Environmental Services Group. “The Aon Green Building Property Program will enable more property owners, regardless of their risk limit or location, to go green by offering an easier and more comprehensive product to support their sustainability, corporate responsibility and environmental stewardship efforts.”

Aon’s comprehensive environmental solution coverage includes:
— Additional costs required to repair or replace property to satisfy the
requirements of LEED, the Green Globes Assessment and Rating System of the Green Building Initiative or equivalent requirements in the U.S. or overseas;
— Repair or replacement of electrical or electronic equipment or devices to meet ENERGY STAR qualifications;
— Costs to hire LEED-certified architects or design professionals to
participate in the design, construction or reconstruction;
— Charges and fees of sponsoring a green building certification program;
— Costs to recycle debris from an insured loss rather than send it to a
landfill.

Aon also noted that, “according to an April 2008 survey by Deloitte, ‘The Staying Power of Sustainability,’ more than one third of U.S. business travelers seek out hotels that are environmentally friendly, making Aon’s new product ideal for the increasingly eco-friendly hospitality and real estate industries.”

Al Tobin, managing director, national property leader of Aon Risk Services, observed that the enhanced coverage was prompted by Aon’s “customers’ needs,” and ensures “the development of customized solutions.”

Source: Aon Corporation – http://www.aon.com

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