Lexington Insurance Company, a member company of American International Group, Inc. (AIG), has increased its capacity of commercial domestic property terrorism insurance to $250 million from $100 million.
“Lexington is committed to providing a meaningful facility for terrorism risks. This announcement represents a substantial commitment of capacity to our client base, many of whom maintain significant terrorism coverage,” said Kevin Kelley, chairman and chief executive officer of Lexington Insurance Company.
Lexington’s increased capacity of $250 million is available for commercial property with extended business exposures, including central business districts. The $250 million in capacity will be available for not only commercial buildings, but municipalities, retail spaces, office buildings and hotels as well. The new capacity is available for stand-alone and embedded coverages and is available on a broad form, with no sunset provisions.
For more information, contact George Stratts, firstname.lastname@example.org.
Source: American International Group
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