Terrorism Insurance

Nuts & Bolts:
The AIG Companies launched LexHomeland Protector, a comprehensive terrorism insurance portfolio to help protect businesses against terrorism risks, including losses from biological and chemical attacks. The portfolio introduces LexBioChem Shield, a new biochemical terrorism endorsement for customers purchasing property terrorism coverage from AIG member companies, 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. A “prevention of re-occupancy” provision covers 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.

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