|LEXINGTON INSURANCE COMPANY INCREASES BUILDER'S RISK CAPACITY TO $100 MILLION|
NEW YORK--April 25, 2007--Lexington Insurance Company, a member company of American International Group, Inc. (AIG), today announced that the company has increased capacity for builder's risk insurance to $100 million, from $50 million.
"We are hearing from the marketplace that there is a need for quality builder's risk capacity. By doubling our available in-house capacity, we can provide the high limits of financially sound coverage our clients need with ease," said George Stratts, Division Executive and EVP, Lexington Insurance Company.
The full builder's risk capacity is accessible through Lexington or through AIG Construction Solutions(R), the AIG practice that provides a central point of contact for domestic brokers and agents placing any construction business with any member companies of AIG.
Along with builder's risk coverage, AIG Construction Solutions(R) provides access to Lexington's full range of construction property coverages, including: all-risk construction/contractors property insurance (including flood, earthquake and coastal windstorm); property terrorism insurance, contractor's equipment; boiler and machinery; contractor's block; and homebuilder's insurance. Primary casualty, excess umbrella liability, professional design liability, defense base act, environmental liability, workers' compensation, accident & health, and surety coverages are also available though AIG Construction Solutions and other member companies of AIG.
For more information on Lexington's Builder's Risk Insurance, contact John Tutera at firstname.lastname@example.org or 617-770-2990.
American International Group, Inc. (AIG), world leaders 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 London, Paris, Switzerland and Tokyo.