Nuts & Bolts:
The AIG Cos. launched LexHomeland Protector, a comprehensive terrorism insurance portfolio designed to help protect businesses against terrorism risks, including losses arising from biological and chemical attacks. The portfolio introduces LexBioChem Shield, a new biochemical terrorism endorsement available to customers purchasing property terrorism coverage from the member companies of AIG, either on a property terrorism standalone basis or within a property policy. The new endorsement covers clean-up and business interruption expenses arising from a biological or chemical attack committed domestically by U.S. or non-U.S. citizens. LexBioChem Shield also offers a “prevention of re-occupancy” provision covering the full amount of an insured property’s value, subject to the policy sublimit, when civil authorities do not allow the insured to re-occupy the property post-remediation. In addition to LexBioChem Shield, LexHomeland Protector offers terrorism coverage for property and casualty risks broader than the requirements under the Terrorism Risk Insurance Act.
Dollars:
Limits up to $10 million are available.
Carrier:
Lexington, rated “A++” by A.M. Best.
States Available: All.
Contact: Charles Benda, (212) 770-3745, or homelandprotector@aig.com.
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