XL Insurance Launches Green Building Property Cover in the UK
New York, New York - December 09, 2008
LONDON, 9 December, 2008 – XL Insurance, the global insurance operations of XL Capital Ltd (NYSE: XL), today announced the launch of its green building cover enhancement in the UK. The policy endorsement is designed to help companies rebuild their properties, following an insured loss, using best practice sustainability criteria.The Sustainable Property Endorsement provides additional cover for an environmentally friendly reconstruction of damaged property based on the specifications of the highly respected UK Building Research Establishment’s Environmental Assessment Method (BREEAM). The new cover also pays for an assessment by a BREEAM qualified surveyor, following an insured loss.Peter Smithdale, Property Underwriting Manager UK for XL Insurance, said: “This innovative cover extension helps to provide a practical solution to a global issue. The endorsement provides clients with incentives, following a loss, to deal with environmental issues within their building portfolio. Green building is more than just a growing trend and we are pleased to support companies in achieving their environmental goals by offering products that provide tangible value to them, as well as the planet.”Martin Townsend, Director, BREEAM commented: “Sustainable building design focuses on reduced energy costs and greenhouse gas emissions while improving the working environment, resulting in long-term benefits for all. BREEAM helps companies to incorporate the latest concepts on sustainability and resource efficiency, when considering the building and operation of their premises.”About XL Insurance "XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance and its products is available at www.xlinsurance.com Through its operating subsidiaries, XL Capital Ltd is a leading provider of global insurance and reinsurance coverages and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. For more information about XL Capital Ltd, please visit www.xlgroup.com.About BREEAM BREEAM (BRE Environmental Assessment Method) is the world’s leading and most widely used environmental assessment method for buildings, with over 100,000 buildings certified and over half a million registered. Credits are awarded under BREEAM in nine categories according to performance. These credits are then added together to produce a single overall score on a scale of Pass, Good, Very Good, Excellent and Outstanding which is also reflected in a star rating from 1 to 5 stars. The operation of BREEAM is overseen by an independent Sustainability Board, representing a wide cross-section of construction industry stakeholders. www.breeam.org.
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