CINCINNATI--(BUSINESS WIRE)--The Property & Inland Marine Division of Great American Insurance Group announced the introduction of its Builders’ Risk Green Extension Endorsement. This endorsement has been created for new construction projects that are designed to meet the Leadership in Environmental Energy & Design (LEED) “Certified” Standard, as determined by the U.S. Green Building Council or the Green Building Initiative. According to the 2008 FMI U.S. Construction Overview, more than $21 billion of new non-residential construction will use green building principles in 2008. “With the rise in green building and development projects predicted to increase substantially over the next 5 years we believe this new endorsement will allow Great American to continue to provide a high standard of service to the ever-changing needs of the building industry,” stated Dale Kelley, Divisional President of Great American’s Property & Inland Marine Division. “Our insurance specialists understand the loss exposures and expenses related to LEED certified building projects and believe that this coverage will help builders address these unique risks in their business.” Great American Insurance’s Builders’ Risk Green Extension Endorsement includes: No item limits for lawns, trees and shrubs Additional coverage for: Restoring air quality (in spaces over 25,000 square feet), up to $50,000 Costs associated with building commissioning Fees for re-certification and registration Additional expenses related to public utilities Recycling expense (up to $50,000) Additional time in the “period of delay in completion” when necessary to meet the certification incorporated into the building design (applicable to Soft Costs/Rents coverage).
