NEW YORK--(BUSINESS WIRE)--AIG Risk Management® (AIGRM), a unit of AIG Commercial Insurance, today announced its AIGRMGreenSM product line, a component of AIG Real Estate Solutions. The primary casualty coverage for property owners and managers of green buildings consists of two coverages, AIGRMGreen Reputation CoverageSM and AIGRMGreen Indoor Environment CoverageSM. AIGRMGreen Reputation Coverage provides up to $50,000 in coverage, per occurrence, for crisis management consultant costs resulting from management of a reputational crisis when a green building experiences adverse publicity. Specifically, AIGRMGreen Reputation Coverage provides funds to employ crisis management specialists to manage adverse publicity; guide and counsel key company personnel; and provide other necessary services to assist in restoring a company’s reputation. AIGRMGreen Indoor Environment Coverage protects against claims of bodily injury caused by any substance or odor produced by or originated from a green building’s specialized equipment used to improve air quality or water quality control. While such equipment is critical to green certification, loss resulting from this type of equipment is typically not covered in standard policies, exposing the building owner to a gap in protection. “Across the U.S. and around the world, there has been a growing realization of the value of environmentally friendly and sustainable buildings,” said Joe Fobert, Senior Vice President, AIGRM and AIG Real Estate Solutions Practice Leader. “We recognize that green buildings are a social responsibility and a sound business practice. However, as we enter new territory regarding green buildings, there may be exposures to risks that were never anticipated. AIGRMGreen offers protection from these risks.” Pre-event and during-event consultation services, which may include crisis planning and response, crisis management and on-site support, are also available under AIGRMGreen coverage. As soon as an event occurs, customers have immediate around-the-clock access to green claims specialists who provide such services through The AIG Green Hotline. AIGRMGreen Reputation Coverage and AIGRMGreen Indoor Environment Coverage are available as endorsements to AIGRM general liability coverage customers who own or manage buildings that comply with green building standards established and recognized by an industry authority, such as LEED® (Leadership in Energy and Environmental Design), which is the certification program of the U.S. Green Building Council (USGBC).
