HARTFORD, Conn.--(BUSINESS WIRE)--Sept. 3, 2008--The U.S. Green
Building Council reports that by 2010, the value of green building
construction is projected to increase to $60 billion, with
approximately 10 percent of new commercial construction starts
expected to be green. Delivering on the growing demand, Travelers
(NYSE: TRV) Inland is now offering Green Building Additional Coverage.
Designed to support and maintain green construction, the new
product was built to allow customers with new or renovation projects
the opportunity to add Green Building coverage enhancements to their
Builders' Risk or Installation policies. The goal of the coverage is
to help a project move forward, with minimal impact, in the event of a
covered loss.
Green Building Additional Coverage will cover many costs related
to rebuilding and recertifying a covered property to its budgeted
level of green certification. A covered loss may result in additional
expenses to comply with certification standards of a Green Authority.
Coverage also relates to technology used in green construction such as
Alternative Power Generating Equipment and Alternative Water Systems.
"A new set of risks can surface when green building construction
materials are used and stored," said Joseph Tracy, Chief Underwriting
Officer, Travelers Inland. "Innovative, green building materials often
cost more than traditional materials. Sustainable site development,
water and energy consumption and the indoor environmental quality of
the completed structure are all considered when selecting construction
materials. These exposures are contemplated in this additional
coverage."
Travelers Inland builds upon the emphasis on sustainable design
and construction offered in the coverage by providing services that
add value to customers. The Inland Risk Control Network has
specialized experience in working with green materials and the
construction methods and technologies employed in green construction.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading property
casualty insurer selling primarily through independent agents and
brokers. Travelers understands that life and business are inherently
dynamic and that the best way to serve customers is to deliver
insurance in-synch with evolving risks. The company's diverse business
lines offer its global customers a wide range of coverage in the auto,
home and business settings. Travelers is a Fortune 100 company, with
2007 revenues of approximately $26 billion. The company has more than
33,000 employees. For more information on being in-synch, visit
www.travelers.com.
The content of this release is only for the informational use of
the reader. In no event will Travelers or any of its affiliates be
liable in contract or in tort to anyone who has access to this
information for the accuracy or completeness of the information relied
upon in the preparation of this release. Additionally, information
contained herein does not constitute and shall not be construed to
reflect the adoption of any coverage position by Travelers or any of
its affiliates in connection with any of the topics or considerations
set forth herein.
Keyword Tags:
green building, green construction, inland
CONTACT: Travelers Companies, Inc.
Jeffrey Weir, 860-277-8692
SOURCE: Travelers Companies, Inc.