|LEXINGTON INSURANCE COMPANY INCREASES CAPACITY ON SAFETY ACT HOMELAND PROTECTOR(R)|
NEW YORK, Apr 28, 2008 -- Lexington Insurance Company, an AIG company, today increased capacity to $50 million from $25 million for the limits of liability offered for Product Liability Insurance provided by its SAFETY Act Homeland Protector(R) policy. The company also increased capacity to $25 million from $15 million for the Professional Liability Insurance provided by SAFETY Act Homeland Protector(R) policy.
SAFETY Act Homeland Protector(R) provides product and professional liability coverage for companies developing and selling anti-terrorism products and technologies in accordance with the Support Anti-terrorism by Fostering Effective Technologies (SAFETY) Act of 2002. The SAFETY Act provides important legal liability protections for providers of Qualified Anti-Terrorism Technologies - whether they are products or services. The liability protections of the SAFETY Act require product and technology providers to obtain insurance that meets certain standards and characteristics, which the SAFETY Act Homeland Protector provides.
"Due to the requests for increased limits which we receive from clients in the Department of Homeland Security's designation or certification process, Lexington has raised its capacity to provide additional financial safeguard against risks when such products or technologies are deployed," said David Bresnahan, Division and Executive Vice President, Lexington Insurance Company.
For more information on Lexington's Safety Act Homeland Protector contact Rob Cruz, Homeland Security Practice Leader at 646-857-1436 or Robert.Cruz@aig.com.
Insurance provided by Lexington Insurance Company and its affiliates. Issuance of coverage is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Non-insurance services may be provided through independent third parties. Coverage may not be available in all jurisdictions. As a surplus lines insurer, Lexington Insurance Company does not generally participate in state guaranty funds.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
SOURCE: Lexington Insurance Company
American International Group, Inc.