NU Online News Service, Feb. 16, 8:28 a.m. EST

Lexington Insurance Co., a Chartis company, has introduced a new coverage to reimburse colleges and universities for the loss of tuition incomes when an enrolled international student withdraws due to a catastrophe at home.

"According to the Institute of International Education, more than 700,000 international students enrolled to study at U.S. colleges and universities during the 2010-2011 academic year," says Erik Nikodem, senior vice president and property division executive at Lexington, in a statement. "These students typically pay premium tuition rates and receive little to no funding from the college or university. If a catastrophe event in their country causes these students to withdraw, the financial impact to the college or university could be substantial."

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