|Lexington Insurance Company Introduces CarbonCoverSM Registry|
New York – January 6, 2010 – Lexington Insurance Company, a Chartis company, today announced the introduction of CarbonCoverSM Registry, professional liability coverage for carbon registries.
CarbonCover Registry is the first offering in Lexington’s new CarbonCover suite of products designed for companies operating in the developing climate change and greenhouse gas emissions sector. CarbonCover Registry provides professional liability coverage for carbon registries that issue and track carbon offset credits; train, accredit and oversee third party verifiers; and establish standards for the development, quantification and verification of greenhouse gas emissions reduction projects.
“The challenge of the North American carbon market is to help ensure the integrity of various offset credits to preserve value and enable linkage across markets,” said David Bresnahan, Executive Vice President of Lexington. “Carbon offset credits issued by a registry could be called into question during a subsequent verification process. If a registry has issued carbon offset credits in error, CarbonCover Registry provides liability protection against claims from purchasers of those credits. By providing registries this unique coverage, CarbonCover Registry helps to promote market confidence in the value of carbon offset credits.”
CarbonCover Registry provides defense and indemnity coverage on a claims-made basis, and provides worldwide protection for claims brought in the United States.
For more information regarding CarbonCover Registry, contact David Norfleet, Senior Vice President of Lexington at (617) 772-4578 or firstname.lastname@example.org, or Chris Andrews, Underwriting Manager of Lexington at (617) 330-8469 or email@example.com.
Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.