Lexington Insurance Company has introduced Law and Ordinance Upgrade, a new enhancement that is available to Lexington’s higher education, healthcare and commercial real estate property policyholders.
In the event of a covered loss, Law and Ordinance Upgrade covers costs to rebuild insured property to building codes and safety standards in accordance with the latest published International Building Code (IBC) or International Existing Building Code (IEBC) even if the local applicable building codes have not yet adopted those standards.
“Property owners are constantly looking to improve the safety and efficiency of their buildings,” said Erik Nikodem, a Lexington Executive Vice President and its Property Division Executive. “Law and Ordinance Upgrade is designed to help our insureds keep ahead of evolving building and equipment regulations.”
Topics New Markets
Was this article valuable?
Here are more articles you may enjoy.
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
The Future of the Agency in a World of AI 
