Lexington Insurance Company, a subsidiary of New York-basedAmerican International Group Inc., said it has increased itscapacity for commercial domestic property insurance to $250 millionfrom $100 million.
Lexington said its increased capacity would cover all commercialproperty on any noncatastrophe account. It would cover not onlycommercial buildings, but also municipalities, retail spaces,office buildings and hotels. The company said it also would supportthe carrier's focus in key areas such as health care, real estateand higher education as well as hospitals and communicationsrisks.
"Lexington is committed to providing a meaningful facility forcommercial property risks," Kevin Kelley, chairman and chiefexecutive officer of Lexington, said in a statement. "Thisannouncement represents a substantial commitment of capacity to ourclient base, many of whom maintain significant commercial propertyschedules."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
