Green Business Insurance, Inc. is focused on providing lower-priced property and casualty insurance to green business.  In order to earn lower rates the insurance applicant must be green certified.  In the past Green Business Insurance has required green certification by a third party.  Effective June 1. 2008 Green Business Insurance, Inc. will make available their own green certification that ties green certification and corporate responsibility/risk management.  Third party certification is viewed as a barrier for many prospective clients.  Offering our own green certification process will eliminate that cost and barrier.   

 

 

Today Patricia Griffin, Founder of Green Hotels Association, excitedly contacted me to announce Green Business Insurance would be a preferred vendor of business insurance insurance to hotel association members.  I am looking forward to working with Green Hotels Association members and am confident Green Business Insurance will be a valuable partner to each policyholder.  We will work diligently to provide the best possible coverage at the best possible price to each association member.

Green Business Insurance rewards all-types of businesses that adhere to sustainable business practices.  To earn premium discounts this must be verifiable.  Many organizations are emerging as an authority in this area. 

• Cities and states throughout the U.S. are certifying businesses as green
• USGBC: LEED certifies new commercial buildings and existing buildings as green utilizing a point system for building characteristics and building maintenance practices
• Green Seal-Founded in 1989 Green Seal is a 501 (c) (3) organization that certifies all types of business such as manufactures, distributors and service businesses
• Green-e-Main goal is to increase consumer confidence when purchasing electricity products
• Co-Op America-Founded in 1982 it's mission is to create a socially just and environmentally sustainable society
• Institute For Green Certification-Helps companies of all sizes certify green

Contact each organization to determine which certification would best apply to your business.  It's an inexpensive way to promote your business and energize your team members.

 

With the proliferation of green buildings, and businesses with a green work environment, the business insurance industry must recognize and reward green organizations with lower business insurance rates as they represent "better" risk then standard businesses.

According to McGraw-Hill Construction Analytics, Smart Market Trends Report 2008, green building construction costs will exceed $12 billion in 2008 and reach $60 billion by 2010.  This report also states that by 2009, 80% of businsses will be enguaged in green work habits 16% of the time and 20% will be engaged 60% of the time.

At present, there are four insurance carriers (Fireman's Fund, AIG, Chubb, Travelers) that offer green building insurance coverage.  While the U.S. insurance marketplace is well ahead of the curve offering green building insurance, there must be more competition (and lower rates) to reward green businesses. Mainstreet-type businesses that are green should also be rewarded for their sustainable office procedures.  Travel agencies, medical offices, landscape contractors and many, many other business types should earn lower rates as their conciencious business approach.

If a marriage license makes me a better driver and lowers my auto insurance rates, shouldn't broad-scale business/environmental awareness lower my business insurance rates?

Green Business Insurance announced today that it will be utilizing the customer service center of Travelers Insurance to provide policy service to clients.  Upon policy issuance, clients will contact Travelers to make policy changes or inquire about coverage and/or billing issues.