Insurers are cautiously offering coverage for green building projects, but many carriers remain reluctant to provide this specialized coverage as they continue to evaluate the risks involved, according to a report by insurance broker Marsh.
The report, titled "The Green Built Environment in the United States, The State of the Insurance Marketplace," said the construction of environmentally friendly green buildings is growing at an expanding rate, but "the commercial insurance marketplace is keeping a watchful eye on this trend and monitoring the delicate balance between risk and reward."
Marsh said while many insurers are taking a wait-and-see attitude toward most of the market, the property and design professional liability segment is flourishing. That market has developed enhanced coverages or risk management advice, or both, around the green building environment.
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