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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.
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Title Annotation:Marketplace
Author:Goch, Lynna
Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:May 1, 2005
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