Lexington Insurance Company: A Comprehensive Overview

Lexington Insurance Company is a leading provider of surplus lines insurance in the United States. The company offers a wide range of commercial insurance products to businesses, including property, casualty, and specialty lines. With over 50 years of industry experience, the company has built a reputation for providing innovative risk management solutions and exceptional customer service. In this article, we will take a closer look at Lexington Insurance Company, its history, products, and services, and how it can benefit your business.

History of Lexington Insurance Company

Lexington Insurance Company was founded in 1965 by an insurance broker named George Baker. The company was initially established as a surplus lines brokerage, providing coverage to high-risk businesses that were unable to obtain coverage from traditional insurance carriers. Over the years, Lexington expanded its operations and began underwriting policies directly, eventually becoming one of the largest surplus lines insurers in the United States.

Today, Lexington Insurance Company is a subsidiary of AIG, one of the world’s largest insurance companies. The company operates out of its headquarters in Boston, Massachusetts, and has regional offices throughout the United States.

Company Overview

Lexington Insurance Company is a unique and innovative insurance provider in the United States. The company provides coverage for a wide range of commercial risks, including property, casualty, and specialty lines. They are known for their ability to underwrite complex, difficult-to-place risks and for their exceptional customer service.

The company is committed to providing its customers with comprehensive risk management solutions designed to meet their specific needs. They work closely with their clients to identify their unique risks and design insurance products that provide adequate coverage and protection.

Products and Services

Lexington Insurance Company provides a wide range of insurance products and services to businesses in various industries. Here are some of the primary products and services they offer:

Property Insurance

Lexington provides property insurance coverage for a wide range of businesses, including real estate, hospitality, and manufacturing. Their coverage includes protection for physical property damage, business interruption, and additional expenses incurred as a result of a covered loss.

Casualty Insurance

The company provides casualty insurance coverage for businesses in various industries, including construction, transportation, and healthcare. Their coverage includes protection for bodily injury, property damage, and other liability-related risks.

Specialty Lines

Lexington provides specialty lines insurance coverage for unique and difficult-to-place risks. Their coverage includes protection for fine arts, aviation, and marine risks, among others.

Risk Management Services

The company provides risk management services to its clients to help them identify and mitigate potential risks. Their services include loss control and prevention, claims management, and crisis management.

Why Choose Lexington Insurance Company?

Lexington Insurance Company is a leader in the surplus lines insurance industry, with a reputation for innovation, customer service, and risk management expertise. Here are some of the primary reasons why you should consider choosing Lexington for your insurance needs:

Experience and Expertise

Lexington has over 50 years of industry experience and has built a team of underwriters, claims professionals, and risk managers who are experts in their respective fields. They have the knowledge and expertise needed to design and underwrite complex, difficult-to-place risks, and to provide their clients with innovative and effective risk management solutions.

Financial Strength

As a subsidiary of AIG, Lexington has the financial strength and stability needed to provide its clients with long-term, reliable coverage. AIG has an A rating from A.M. Best, indicating strong financial security and favorable long-term outlook.

Customer Service

Lexington is committed to providing exceptional customer service and support to its clients. They work closely with their customers to understand their unique risks and provide customized insurance solutions that meet their specific needs.

Innovative Solutions

Lexington is known for its innovative approach to risk management and insurance. They are constantly developing and deploying new products and services designed to help their clients manage and mitigate potential risks.

FAQs

What is surplus lines insurance?

Surplus lines insurance is a type of insurance that covers risks that traditional insurance carriers are not willing to cover. Surplus lines insurers are authorized to underwrite and issue policies for these risks, which may include high-risk industries or businesses with unique risk profiles.

What types of businesses does Lexington Insurance Company cover?

Lexington provides insurance coverage for a wide range of businesses in various industries, including real estate, hospitality, construction, transportation, and healthcare.

What is risk management?

Risk management is the process of identifying, assessing, and mitigating potential risks to a business. Risk management helps businesses identify potential threats to their operations and take steps to minimize the impact of those risks should they occur.

What is A.M. Best?

A.M. Best is a credit rating company that provides independent evaluations of insurance companies’ financial strength and ability to pay claims. A.M. Best evaluates insurance companies’ financial stability and assigns them a rating based on their financial strength and long-term outlook.

Conclusion

Lexington Insurance Company is a leader in the surplus lines insurance industry, providing innovative risk management solutions and exceptional customer service to businesses across the United States. With its experience, expertise, financial strength, and commitment to innovation, Lexington is an excellent choice for businesses looking for comprehensive insurance coverage and risk management support.