One of today's biggest insurance trends is green insurance as businesses look at ways to become more sustainable and cut costs. According to underwriters, the regulatory environment for green is changing dramatically as well. For example, the Securities and Exchange Commission (SEC) is requiring publicly traded businesses now disclose their climate risks and what they're doing about climate change. The Environmental Protection Agency (EPA) regulates greenhouse gas as a pollutant and is putting new and tougher restrictions on nearly all industries.
Some cities have adopted green building codes requiring that buildings be rebuilt as green. Some jurisdictions, including California, will soon require that office buildings, hotels and buildings that are for sale or lease must disclose their energy star score. These new green building regulations, as well as the actual task of going green, can be overwhelming for a business owner. Insurance companies and agents can work with them to help ease the process and make sure their green exposures are covered.
In this edition of Markets in Motion, MyNewMarkets.com
Associate Editor Amy O'Connor talks with Fireman's Fund
about how agents can help insureds with the going green process and with a business owner who has successfully made the transition to a green business.