Lexington Insurance Company, a member company of American International Group, announced the launch of “Outsourcing Protector”(SM), a new property insurance offering designed to help companies address the risks of domestic and overseas outsourcing.
“Outsourcing Protector, an endorsement to Lexington’s multi-peril property policy, extends Lexington’s property coverage to business interruption losses and extra expenses incurred as the result of a fire or other covered causes of loss that occurs at the outsourcing vendors’ facilities,” said the announcement. “Further, when an insured has purchased terrorism and/or cyber-related coverages in its property policy, the endorsement will indemnify such perils. Customers may also expand coverage to include an insured’s business and personal property located at vendor locations, both foreign and domestic.”
“Companies today are outsourcing a wide range of business functions, from call centers, to web services, to accounting duties,” observed Chairman and CEO Kevin Kelley. “Yet, many of these companies are unaware that their traditional property policies do not respond to all outsourcing-related risks. The Outsourcing Protector suite of coverages specifically addresses the emerging risks that are not covered by traditional insurance policies, thereby providing protection from the significant loss of income that can occur.”
In addition to Outsourcing Protector, Lexington also offers other property and casualty products that respond to outsourcing risks, including LexCyberSecure(SM), as well as tailored General Liability and Professional Liability coverages.
To learn more about Outsourcing Protector, please contact John Foreman, Vice President, Lexington Property, at 617.330.8429 or OutsourcingProtector@aig.com.
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