Fireman's Fund's new green endorsement covers manufacturers that want to reduce water and energy use and lower their overall carbon footprint. The company is offering insurance premium reward incentives to manufacturers who employ environmentally friendly initiatives, practices and products.
"Sustainable manufacturing practices are more profitable than traditional processes," said John Armstrong, manufacturing product director, Fireman's Fund. "In addition to more efficient energy and water usage, advanced technology improves production, reduces waste and lowers costs -- which can translate into increases in net profits."
The new Manufacturers' Green Coverage Endorsement provides Green Upgrade Coverage and Certified Green Building Coverage. Product coverages include:
- Green Upgrade Coverage -- after a loss, this coverage replaces real and business personal property (including machinery and equipment) with green rated products and construction materials. LEED, Green Globes, EnergyStar or SNAP.
- In those instances where no green-rated equivalent exists, the coverage will replace damaged property with alternatives that use energy more efficiently, improve human health, or reduce toxic emissions.
- Certified Green Building Coverage -- after a loss Fireman's Fund will restore the building to its pre-loss LEED certification, or better yet, to one level higher than it was prior to the loss.
This new coverage will pay for the loss of business income, including the loss of public utility credits or reimbursements, resulting from the suspension of alternative power generating equipment, and extra expenses to purchase replacement power or water from a public utility while repairs are being made.
Additionally, Fireman's Fund's comprehensive sustainable manufacturing solutions go beyond property coverage to include insurance cost reductions, sustainable loss control consultation, new vehicle replacement coverage and upgrade to hybrid auto coverage.