Posted on 11 Dec 2009
One of the major, critical issues in the world today is climate change, with leaders from every corner making their way to the UN Climate Change Conference this week and next. The insurance industry is part of the solution in helping to make changes that address this issue. One company in our industry contributing to the effort in “going green” is Bellevue, WA-based program administrator and specialty wholesale broker Mainstay Insurance Group with its AGPOM (Association of Green Property Owners and Managers) Program.
AGPOM is a non-profit organization dedicated to the advancement of the green movement by helping property owners and managers realize the value of environmental-friendly pursuits while offering incentives that stimulate participation. There are several membership benefits that are designed to promote the greening of buildings and reward those real estate owners and managers that do so. One key membership benefit is the AGPOM Insurance Program, designed to tie risk control to green behavioral changes in managing property. Premium rates have credits available depending upon individual member commitment to Green practices.
“Our insurance program for AGPOM members includes an Umbrella product with limits up to $100 million,” says Dusty, co-founder and president of Mainstay. “A 5% to 10% discount is available to AGPOM members committed to the AGPOM Green Building Plan (http://www.agpom.org/greeningyourproperty). The carriers, rated A-7 or better, that support the Umbrella product are Zurich, Chartis, Ace, Navigators and Liberty Mutual. There is also a Package policy available through Chubb. And, shortly, monoline General Liability and monoline Property products will be made available.
Eligible classes include: offices, retail, multi-family, (apartments, condos, co-ops, homeowners associations), and warehouses -- light industrial. There are plans to expand
the eligible classes to other real estate classes like hotels, resorts, and casinos next year.
Charter Membership under the program is available for those agents and brokers getting in on the ground floor. “Charter Membership is designed to identify and partner with brokers who want to use the AGPOM program as way of differentiating themselves from their competitors with building owners and managers,” says Dusty. “These retailers must commit to binding three accounts in one year. As ‘founding members’, they will receive benefits such as BOR protection and the establishment of microsites within the AGPOM portal for members to locate them.”
Additionally, there is a separate portal under the AGPOM Insurance Center (http://agpom.org/insurancecenter), designed for retail agents and brokers (http://www.agpom.org/retailagentsandbrokers) where you can find all the needed tools for obtaining quotes, including applications.
“We’ve received a tremendous amount of traction with the program going national in September,” says Dusty. “We’re helping property owners and managers commit to a corporate sustainability policy and addressing the overlap between going green and the management of business risk. For retail agents and brokers, we are providing a new opportunity to discuss a top-of-the-mind issue with clients and generate a revenue stream in an area that is part of our individual, business, community, and political landscape today.”
To find out more about the AGPOM and to learn how you can become part of the Charter Membership for Retail Agents and Brokers program, please contact Dusty at 425.454.7987 or email at email@example.com. For more information about Mainstay, please visit: www.mainstayins.com.