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Due to the rapidly changing landscape in the green built environment and the insurance markets' response to them, Marsh has issued a year-end update to its Green Built Environment in the United States that covers several changes to the insurance market for green buildings as of December 2008.
The update reflects an increased interest among insurance companies in green building. For example, in the commercial property insurance sector more carriers are entering the marketplace with increased capacity and varying products. Meanwhile, the casualty markets generally remain concerned about potential risks associated with green buildings, but also demonstrate a desire to learn more about them as well as the benefits of green building.
Despite current challenges in financing new projects, there still is considerable support for building green. Even with the current economic climate, McGraw-Hill expects that green construction will grow to $56 billion to $70 billion in the next five years.
Updates to the Report
Marsh has made a number of significant changes to The Green Built Environment in the United States, including:
- Several additional builders' risk insurance carriers now offer specific "green" endorsements. The updated report provides details on new offerings from Zurich, Travelers and ACE.
- More markets have begun offering green property coverage enhancements. The report covers offerings from Affiliated FM and FM Global.
- The report also includes a discussion of several new products from AIG and ACE.
About the Green Building Report
Marsh first published The Green Built Environment in the United States in June 2008. This latest update was based on market surveys Marsh conducted from September 2008 – December 2008.
To obtain or read the full, updated text of The Green Built Environment in the United States, please register.
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Contacts
Teresa Kavan
Knowledge Manager
Des Moines, IA
515-365-1316
Related Information
Green Building: Assessing the Risks
Marsh Construction
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