First Green Policy Takes Effect Aug. 1 in California

California Insurance Commissioner Steve Poizner on Friday joined Fireman's Fund Insurance Company and the U.S. Green Building Council to announce his approval of the first green homeowners insurance policy in California.

Poizner applauded Fireman's Fund for being the first company to offer a green homeowners policy in California, and encouraged other insurers to explore environmentally-friendly options for consumers.

This landmark coverage approved by Poizner will be available Aug. 1, and will enable California homeowners with conventional homes to rebuild to the latest environmental standards after a loss. The newly-approved policy will provide coverage for costs typically not covered in traditional homeowners policies, like green recertification fees and other additional expenses environmentally-conscious homeowners may incur when rebuilding.

Under the type of coverage approved by Poizner, California homeowners can for the first time rebuild covered homes, under Leadership in Environmental and Energy Design (LEED) standards set by the U.S. Green Building Council. The first-of-its-kind policy provides up to $25,000 for a LEED-certified architect to oversee the rebuilding of the home, and the LEED application process.

This newly-approved policy will allow a policyholder whose home has been partially damaged or completely destroyed to repair it with environmentally preferable materials such as:

· Energy Star-rated appliances, lighting, electronic equipment and roofing / insulation

· An Energy Starupgrade of heating, ventilation and air-conditioning systems

· Forest Stewardship Council (www.fcsus.org) certified wood for millwork, ceilings,
siding and framing, including bamboo flooring

· Non-toxic, low odor paints and carpeting

· Water-saving plumbing fixtures

· Elimination of ozone-depleting refrigerants and fire extinguishing agents, replaced
with environmentally friendly alternatives

· Debris removed after damage to a home will be recycled and diverted from landfill

Currently, Poizner is sponsoring SB 1279 (Sen. Maldonado), which will allow insurance companies to submit paperless filings to the Department of Insurance, significantly reducing the amount of trees cut down by the numerous paper filings the Department receives annually. Poizner is also working to develop regulations that will create a green auto insurance option for California drivers. "Pay as you drive" auto insurance will be a voluntary way for consumers to pay rates that most accurately reflect their coverage, and encourage Californians to drive less, reducing the environmental strain of vehicle emissions.