Chartis-owned company, Lexington Insurance Co., has released a new form of coverage geared toward colleges and universities, to help them to protect themselves against the tuition losses that they face from international students who are enrolled, but who withdraw as a result of a catastrophic event at home. Lexington’s senior vice president and executive from their property division, Erik Nikodem, explained that data from the Institute of International Education says that there were over 700,000 international students enrolled in universities and colleges in the United States during the academic year…
Read MoreTag: speciality lines
Chubb Adds Protection for Cyber and Other Crimes to Its Private Company Program
WARREN, NJ, December 5, 2011 — To help protect private companies from an increasing number of cyber and other crimes, the Chubb Group of Insurance Companies has added insurance coverages and risk management services to its ForeFront Portfolio 3.0SM program. “The frequency and severity of cyber breaches, employee thefts, kidnappings and workplace violence incidents are growing concerns for many companies and their employees,” said Lisa Jones, vice president for private business management liability products for Chubb. “Private companies remain vulnerable to these potentially disruptive and expensive criminal incidents if they…
Read MoreEntertainment industry receives coverage from new insurance products at Liberty Company Insurance Brokers
Liberty Company Insurance Brokers, Inc. has announced that it will be expanding its product line – which has been serving businesses and residents in California for almost a quarter of a century – to provide coverage for the entertainment industry. It will be providing services to this new market through the creation of Liberty Entertainment Insurance Services, LLC. This way, the agency will be providing both businesses and individuals in the entertainment industry with forms of coverage that are designed specifically for their unique needs. The new president of this…
Read MoreWith public entities making major cutbacks, insurers are growing weary of the increasing risks found in state prisons
The effects of 2008’s economic recession are still being felt today, even as the economy shows modest signs of recovery. The lingering impact of economic turmoil is now being felt by public entities that are making major cutbacks to personnel and services. The insurance industry is keeping a keen eye on these government-backed entities as they are becoming increasingly exposed to risk. State prisons, in particular, have insurers worried due to the rampant overcrowding seen in such facilities throughout the U.S. The Professional Liability and Underwriting Society, a risk analysis…
Read More