Lexington Insurance Company Introduces Evacuation Response Coverage

Strategic Insights -

Lexington Insurance Company, a member of American International Group, Inc. (AIG), has announced the introduction of Evacuation Response Coverage for select healthcare and higher education institutions. This coverage provides policyholders with protection against expenses incurred due to mandatory evacuation orders from local civil authorities. The coverage insures evacuation expenses for up to 30 days and can be written to protect multiple locations, without requiring direct physical loss or damage. George Stratts, Property Division Executive and Senior Vice President, Lexington Insurance Company, stated that the Evacuation Response Coverage was created to further protect healthcare and higher education customers against the costs related to mandatory evacuations.

Key Takeaways:

  • Lexington Insurance Company has introduced Evacuation Response Coverage for select healthcare and higher education institutions to protect against expenses incurred due to mandatory evacuation orders.
  • The coverage provides insurance for evacuation expenses, including transportation, shelter, food, and medical care for patients, students, and essential employees.
  • The coverage can be written to protect multiple locations and can last for up to 30 days.
  • Direct physical loss or damage is not required to trigger coverage.
  • Lexington's Evacuation Response Coverage represents the company's commitment to providing added protection to the healthcare and higher education industries, particularly during storm seasons.
  • The coverage is available for multiple locations and can be insured through Lexington Insurance Company.

Statistics:

  • Up to 30 days of evacuation coverage can be provided for select healthcare and higher education institutions.
  • The coverage can be written to protect multiple locations.
  • Direct physical loss or damage is not required to trigger coverage.
  • Lexington Insurance Company has a presence in over 130 countries and jurisdictions.
  • American International Group, Inc. (AIG) serves commercial, institutional, and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer.

Sources:

  • "Telegram" from Lexington Insurance Company, citing George Stratts, Property Division Executive and Senior Vice President, Lexington Insurance Company.
  • American International Group, Inc. (AIG) corporate website.