Lexington Insurance Company, a member company of American International Group, Inc. (AIG), has introduced Warehouse Legal Liability insurance, a new policy providing coverage for the warehousing, trucking and logistics industries.
The new policy addresses legal liability that may arise from the loss of property in the insured’s custody. Warehouse Legal Liability insurance can be purchased alone or as part of Lex TransportPlus, a product suite that includes motor cargo, vehicle physical damage, building personal property, business interruption, and other logistics-focused insurance coverages from Lexington and other AIG member companies. Defense costs are paid outside of the policy limits.
Included with Warehouse Legal Liability coverage, Lexington offers comprehensive loss prevention services to address fire protection and specialized security requirements for target commodities. In addition, Warehouse Legal Liability offers optional coverage to enable policyholders to tailor insurance for specific areas of exposure, including: inventory costs to validate a loss; uncollectible customer fees in conjunction with a covered loss; debris removal expenses; pollutant removal expenses; contract penalties; unexplained loss/ mysterious disappearance; employee theft; and cross-dock operations.
For more information on Warehouse Legal Liability Insurance or TransportPlus, please contact Steve Silverman, AVP and Product Line Manager for Lexington Insurance Company at (617) 330-8492 or Steve.Silverman@AIG.com.
Source: Lexington Insurance Company
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