|LEXINGTON INSURANCE COMPANY INTRODUCES TRUCK BROKER LIABILITY INSURANCE|
NEW YORK--July 15, 2008--Lexington Insurance Company, a unit of AIG Commercial Insurance, today announced Lexington Truck Broker Liability Insurance, a primary liability insurance policy that addresses liability risks of truck brokers, who bring together shippers needing to transport goods and authorized motor carriers.
A recent federal court decision ruled that shippers and brokers failing to use "reasonable means" to perform background checks on motor carriers before they are retained could be liable for accidents caused by the motor carriers. In response to the increased liability risks, Lexington designed Truck Broker Liability Insurance to provide bodily injury and property damage liability coverage to protect the truck broker if the broker is brought into a legal action caused by a truck accident involving a motor carrier.
"Truck Broker Liability responds to an emerging exposure in the transportation industry," said David Bresnahan, Executive Vice President, Lexington Insurance Company. "Because it is a unique contingent exposure, we created Truck Broker Liability as a primary product, complimenting Lexington's established auto capabilities and services."
Lexington Truck Broker Liability Insurance is part of the AIG Transportation Solutions practice, and adds to AIG Commercial Insurance's suite of insurance products for the transportation industry, ranging from primary and excess auto liability to cargo and vehicle physical damage coverage.
For more information on Lexington's Truck Broker Liability, contact Rocco Modafferi, Vice President, Lexington Insurance at (617) 330-8462 or Rocco.Modafferi@AIG.com.
AIG Commercial Insurance serves a wide range of customers from multinational and middle-market companies to non-profit organizations and small entrepreneurs. Its extensive product offerings include general and excess liability, property, management and professional liability, workers' compensation, accident and health, environmental liability, and integrated global programs for multinational companies. AIG Commercial Insurance also maintains dedicated industry groups to serve the insurance needs of the aviation, energy, marine, healthcare, construction, financial institution, real estate and education sectors.
AIG Commercial Insurance is the marketing name for the domestic commercial property casualty insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products are written by insurance company
subsidiaries of AIG Commercial Insurance Group, Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. As a surplus lines insurer, Lexington Insurance Company does not generally participate in state guaranty funds. Non-insurance products and services may be provided by independent third parties.
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.