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The American Association of Insurance Services (AAIS) plans to institute a new standardized builders’ risk policy providing coverage for “green” certification loss exposure of an insured project, AAIS announced Wednesday, July 22. The forms, which will take effect on Dec. 1, 2009 in 22 states, consist of two new endorsements: “Green Building Coverage” and “Delay in Completion Coverage.”

The green coverage aspect encompasses four additional coverages: indoor air quality, recycling debris, recertification, and electricity and water replacement.

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