NEW YORK CITY-Steve Bushnell, product director of Fireman's Fun Insurance Co. thinks of risk in terms of green. Insurance companies such as his view green risk based on physical, operation and enterprise aspects.
In the BOMA session titled, "It's Not Easy Being Green: Are You Prepared for the Risks," Bushnell noted that the Novato, CA-based Fireman's Fund is interested in green coverage because of three main reasons. The first is the profound economic value proposition; businesses can improve their cash flow, operating income and asset value by going green. The second is the green buildings are better insurance risks. The third is that tenants are increasingly seeking green space.
"Green buildings do present a different set of risks than traditional buildings," he said. "You have to think of green risks in terms of the physical, the operational and the enterprise aspects."
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