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July 02, 2015 8:06 PM ET

Insurance

Company Overview of Lexington Insurance Company

Company Overview

Lexington Insurance Company provides property, casualty and specialty coverages and programs. It offers medical professional liability insurance products for hospitals and healthcare systems, long-term care facilities, managed care organizations, healthcare facilities, physicians and surgeons, life sciences manufacturers and distributors, healthcare providers, healthcare programs, and healthcare products manufacturers and distributors. The company also provides casualty insurance products, such as commercial general liability, energy casualty, excess energy, sexual misconduct liability, truck broker liability, umbrella liability, railroad excess liability, accountants professional liability,...

99 High Street

Floor 23

Boston, MA 02110-2378

United States

Founded in 1965

Phone:

617 330 1100

Key Executives for Lexington Insurance Company

Chief Executive Officer and President
Chief Operating Officer and Executive Vice President
Chief Executive Officer of AIG Property Casualty's Americas Region and President of AIG Property Casualty's Americas Region
Head of Strategic Development and Executive Vice President
Head of Distribution Management
Compensation as of Fiscal Year 2015.

Lexington Insurance Company Key Developments

The City of Long Beach Files Lawsuit Against Lexington Insurance Co

The city of Long Beach, N.Y., filed a lawsuit against Lexington Insurance Co. alleging breach of contract in connection with damages caused by Superstorm Sandy. The complaint alleges the city purchased commercial liability insurance from Lexington that was in effect at the time of the Oct. 29, 2012, storm. The city claims it suffered substantial damage to its infrastructure, equipment and facilities, in addition to damage to its revenue generating operations. Lexington paid $10 million under a portion of the policy that provided that amount as a flood sublimit. Lexington also paid $131,616 for wind damage. However, the lawsuit alleges that Lexington failed to pay more than $3.2 million in business and service interruption losses. Lexington removed the lawsuit, which also names American International Group Inc. as a defendant-to the U.S. District Court for the Eastern District of New York.

National Railroad Passenger Corp. Files a Lawsuit Against 22 Separate Insurance Companies

National Railroad Passenger Corp., also known as Amtrak, filed a lawsuit against 22 separate insurance companies, alleging they failed to provide coverage for environmental claims spanning from 1972 through 1986. According to the lawsuit, Amtrak purchased insurance policies from the defendant insurers during that time. Amtrak subsequently had to defend property damage and bodily injury claims attributable to environmental pollutants, including asbestos. Amtrak allegedly spent more than $40 million on the property damage claims and $92 million on the bodily injury claims. The defendant insurers include Allstate Insurance Co., Lexington Insurance Co., Nationwide Mutual Insurance Co. and Evanston Insurance Co., among others.

Yoga Guru Sues Philadelphia Indemnity Insurance Company, Lexington Insurance Company, Scottsdale Insurance Company, Inc. and Nationwide Mutual Insurance Company, Inc. for Failing to Defend Sexual Harassment Lawsuits

A lawsuit filed by Bikram's Yoga College of India L.P. and Bikram Choudhury Yoga Inc. (collectively, Bikram Yoga) had commercial liability insurance policies at different times with Philadelphia Indemnity Insurance Co., Lexington Insurance Co., Scottsdale Insurance Co. and Nationwide Mutual Insurance Co. Bikram Yoga and Choudhury became defendants in several lawsuits alleging sex discrimination, sex harassment and sexual assault that potentially fell within the coverage provided by the defendant insurance companies. The lawsuit alleges that the insurers failed to defend Bikram Yoga and Choudhury and that such failure amounted to breach of contract and unfair business practices. Lexington filed a notice to remove the lawsuit to the U.S. District Court for the Central District of California.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
February 19, 2015
Lindsay Corporation
 

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