RIG Unveils Insurance Plans for Green Elements of Properties
- Feb 01, 2008
By Anuradha Kher, Online News EditorMiami–Riemer Insurance Group (RIG), an independent insurance agency, is offering “Green-Gard” coverage, a type of property insurance for owners of various types of buildings who have green-certified property, are in the process of making green improvements, or wish to upgrade to green in the event of a loss.The coverage, provided through the Fireman’s Fund Insurance Company, offers three types of insurance plans. The ‘Green Real and Personal Property Upgrade’ will cover owners of buildings, which are not certified and may or may not include green features, for the cost of making defined upgrades. ‘Certified Green Building Coverage’ will allow owners of Leadership in Energy and Environmental Design (LEED) or Green Globes-certified buildings to make repairs that meet green qualifications and the ‘Building Commissioning Expense’ will pay for the cost to hire a commissioning engineer to oversee repairs in ensuring that all the building’s systems are operating at peak performance and are in agreement with one another. In addition, the online iCustomer Series Green Resource Center, which has articles, tools and links to help customers understand the Green building movement and its many benefits, will be available to clients.Multifamily and commercial real estate, senior living, printing and institutional buildings, wineries, farms, ranches, hospitals, restaurants, hotels, and manufacturing and processing relating to home and office will be buildings eligible for this insurance.“Our goal is to immediately respond to market demands and to stay on top of industry trends so we offer our customers the most up-to-date, comprehensive insurance available,” says Stephen L. Riemer, founder and president of the company. Reimar tells MHN, “Say a building has a solar panel on its roof which is completely damaged by a natural disaster. ‘Green-Gard’ claim allows the building owner to replace the solar panel with a new upgraded one. And premium for the ‘Green-Gard’ plan is a minimal addition to existing property insurance.”RIG has more than 8,000 clients and $88 million in premium sales in 2007. Projected sales for 2008 are $100 million.