The Warren, New Jersey-based Chubb Group of Insurance Companieshas announced it has joined with the American Council on RenewableEnergy and U.S. Green Building Council in an effort to support thedevelopment of alternative energy markets. Company officials saidit made the move as a means to serve its commercial policyholders.Increasingly, more carriers are looking at ways to take advantageof the underwriting risks and benefits available in the growingalternative energy market.

The Hallandale Beach-based Riemer Insurance Group is nowoffering “Green-Gard” coverage through the Fireman's Fund InsuranceCompany. Green-Gard is a supplemental policy for property owners ofcommercial buildings that currently own green-certified property orhave plans to make their buildings green-certified in the nearfuture.

Chubb officials said they have recently formed a green-energyteam, made up of experienced underwriters and loss-controlspecialists, to respond to the accelerating development ofenvironmentally friendly energies, products, and technologies. Theteam is charged with developing core commercial insurance productsand services that utilize such technology. Chubb noted that overthe past 20 years, it has insured risks that use renewable windturbines, ethanol and biodiesel plants, solar energy, andhydroelectric power generators.