Lexington Insurance is a commercial property insurance company, and though few can tell by its name, they are part of the group of companies owned by insurance giant AIG. Lexington often avoids formal licensing in certain states, and instead acts as a surplus lines carrier in order to avoid having to comply with certain laws. A state’s insurance commissioner does not license surplus lines carriers and they do not have to comply with regulations regarding types of coverage. Surplus lines insurance is used when a policy is too high risk for traditional insurance companies. Due to the lack of regulation, the language of a policy can be tailored to fit a client’s needs.
Lexington Insurance is based in Boston and handles commercial properties. As with most insurance companies, the company counts on denied, delayed and disputed claims to be an obstacle for the policyholder and lower the number of claims they actually pay. Lexington Insurance often uses outside adjusting firms for their policyholders claims, relying on firms like York Services and others to handle the claims process. Companies like Lexington Insurance may undervalue or deny claims by falsely claiming the damage is associated with regular maintenance that the owner should cover. The company may also deny a claim based on a decision that the damage was not caused by the event in question. A skilled insurance claims attorney can help dispute issues such as these against Lexington.
Surplus Lines Insurance Bad Faith
Raizner Slania is experienced in fighting insurance companies such as Lexington Insurance. The firm has received verdicts on behalf of their clients against several large insurance companies who have displayed bad faith behavior. Companies such as Lexington have a duty to their policyholders and an attorney skilled in Lexington insurance claims at Raizner Slania fights to see that duty honored.