Farmington HIlls, Mich.-based managing general agency Burns & Wilcox recently introduced a new product series– Green Impact– that targets environment-friendly home and business risks.
The Green Impact products include coverage for:
– Contractors, both residential and commercial, who specialize in installing and servicing products that energy-efficient buildings may require. Generally, these cover the risks involved with installation of heating and cooling devices, solar panels, insulation, and other materials that qualify for energy saving tax credits.
– Homeowners who live in houses that are considered eco-friendly. Coverage is for homes that have solar panels and heat pumps and other energy-efficient items. Risks the homeowners may face include those resulting from the green products being incorrectly installed, job site exposure during installation or a general product malfunction. There also are weather-related risks. For example, an insured’s home can be exposed to a loss if its solar panels are destroyed during a hail storm.
– Commercial buildings that are built to meet predicted energy savings or renewable energy technology performance levels. Coverage also is available for commercial property owners who rebuild and replace existing material with green alternatives. Commercial building owners face the same type of risks as homeowners when transitioning to green alternatives.
– Industries that specialize in the creation and transportation of alternative energy sources. Industries covered include, but are not limited to, ethanol plants, wind farms and bio diesel factories. The risks involved can include bio diesel oil spills, animal fat and vegetable spills, which can have some negative impact on an aquatic environment.
– Recycling Centers. Coverage features general liability and environmental pollution liability, which include bodily injury and property damage coverage, on-site and off-site cleanup, and contingent transportation defined as bodily injury, property damage or clean-up costs incurred as a result of transportation of the insured’s waste products by a common carrier.
Source: Burns & Wilcox
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