X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

XL Insurance, the global insurance operations of XL Capital Ltd., has created Sustainable Property Endorsement to encourage customers who experience a property loss to rebuild using resource-efficient, environmentally friendly materials.The program is designed to be attached to U.S. property insurance policies and is also adaptable to other tailored or manuscript forms under certain conditions. The endorsement is based on the Leadership in Energy and Environmental Design Green Building Rating System developed by the U.S. Green Building Council. It allows XLI’s customers to collect an amount greater than the value of the damaged property provided the damaged property is replaced with an environmentally acceptable substitute and, therefore, encouraging customers to upgrade their property at the time of loss.

The endorsement is not limited to property such as furniture and appliances, but also applies to all insured property unless specifically excluded in the endorsement. Coverage is extended to include undamaged property under the building laws provision as well as recycling and recertification expenses after both full and partial losses. Some of the benefits of designing with sustainability include reduced energy costs, increased employee productivity and reduced greenhouse gas emissions.

This premium content is locked for
PropertyCasualty360 subscribers only.

Already have an account?
Interested in customizing your subscription with Law.com All Access?
Contact our Sales Professionals at 1-855-808-4530 or send an email to groupsales@alm.com to learn more.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.