WIN Magazine - Fall 2015 - (Page 21)

feature it's not EAsy BEing gREEn Assessing the impAct of green construction on cgL exposures By JosepH HarriNgtoN, cpcu REEN" CONSTRUCTION REFERS to the fast-growing trend among property owners, designers, and builders to create structures with specific features designed to make them more energy efficient with a beneficial impact on the natural environment. Developers of green projects generally seek to have them certified as "green" by organizations that use point systems to establish levels of green certification. Two of the best known of these certifications are the: * Leadership in Energy and Environmental Design certifications granted by the U.S. Green Building Certification Institute, which certifies buildings as meeting a "silver," "gold," or "platinum" standard. * Green Globes rating system used by the Green Building Initiative, which awards structures one, two, three, or four green globes. Points under these rating systems are awarded for major structural features and for other amenities, such as the presence of bicycle racks. A building's rating depends on the total number of points earned across several categories. States and municipalities are contributing to the green construction trend by incorporating green features into building codes or offering tax incentives for property owners to earn a green certification. The role the green rating systems play in the valuation of green buildings is central to the liability insurance issues arising from green construction. professIoNal Observers agree that third party certification for green buildings will contribute to vastly-expanded professional liability for architects and contractors. According to Chicago attorney and licensed architect Gary Cole, "unfulfilled expectations" will be the leading cause of green-related litigation between project owners on the one hand, and those who design and build green structures on the other. "'Unfulfilled expectations' is a simplified way of referring to some manifestation as a breach of contract," Cole writes in his Green Goblin Web series. "Breaches of contract can arise by violations of expressed terms or implied terms." According to Cole and others, a casual statement or ambiguous contract provision that expresses a commitment W I N | F a l l 2 0 15 | 21

Table of Contents for the Digital Edition of WIN Magazine - Fall 2015

Risk Exposures of Global Food Shortages & Security
Predictive Analytics and Surplus Lines: Freedom of Rate but Not Free of Unfair Discrimination
It’s Not Easy Being Green: Assessing the Impact of Green Construction on CGL Exposures
The Case for Trade Disruption Insurance in the E&S Market
Managing Human Resources in an Increasingly Complex Insurance Industry
Developing an Effective Mentoring Program
Workflow Efficiency: What’s in it for You?
Prominent Defenses Undercut in Data Breach Lawsuits and Class Actions
Cyber Crime and Data Breaches
Index of Advertisers

WIN Magazine - Fall 2015

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