Lexington Unveils Product to Protect Colleges from International Student Tuition Loss

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. “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.”