Printer Friendly

AIG extends terrorism coverage.

Lexington Insurance Co., a member company of American International Group Inc., is offering a new property terrorism endorsement that provides coverage for losses incurred when a civil or military order related to a terrorist act or threat impedes business operations. The OpShield endorsement offers a maximum aggregate of $25 million as a sublimit to the property terrorism policy.

Coverage is triggered when a civil or military order takes effect within a specified distance around the insured's business, and may be extended to respond when an order is issued for certain areas surrounding nonowned locations, such as shipping ports or railways. The endorsement can he extended to include coverage for the operational impact on an insured's business when a civil or military order impedes its ability to work with third-party business relationships such as suppliers or vendors. Additionally, OpShield can be written to cover terrorist attacks or threats involving use of biological and chemical agents at locations owned, operated, or specified as "dependent" by the insured.

OpShield is the newest addition to Lexington's Homeland Protector, a portfolio of property/casualty insurance products and services that address terrorism and homeland security-related exposures.
COPYRIGHT 2005 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Marketplace
Author:Goch, Lynna
Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:May 1, 2005
Words:190
Previous Article:GuideOne offers personal lines policies in 19 states.
Next Article:Nationwide, VW program reports test run results.
Topics:


Related Articles
Greenberg: Feds should exit Aviation insurance business. (Briefing).
A glass half full: as the Terrorism Risk Insurance Act approaches its first anniversary, demand for terrorism insurance is low, but industry experts...
AIG defends its terror insurance pricing.
Opinions, theories differ in terror rate setting.
AIG offers commercial coverage for public venues.
AIG to protect anti-terrorism products, technologies.
The need for terrorism coverage: there are fundamental constitutional and philosophical rationales for federal terrorism insurance.
Brainstorming for business: AIG's search for new risks worldwide often makes it the first to market a new insurance product.
AIG offers biochemical attack insurance.
Sunrise or sunset: agents and brokers fear an end to TRIA could signal an end to the industry.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters