Nuts & Bolts:
The AIG Companies 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.
Topics Catastrophe Natural Disasters Property
Was this article valuable?
Here are more articles you may enjoy.
Coca-Cola Suspends Fairlife Operations After Cyberattack 
Q2 Net Income at Travelers Soars 46% on Less Catastrophes, Favorable Reserves 
Florida Property Tax Cut Plan Relies on Population Boom That Has Slowed Dramatically 
Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers to Begin From This Issue
