Lexington Insurance Company Expands Spoliation Insurance Product

Lexington Insurance Company, a Chartis company, announced its spoliation insurance endorsement will be offered to a broad array of insureds, including lawyers, accountants, testing facilities, and document and property storage facilities.

Lexington first provided coverage for spoliation claims as an endorsement to its professional liability policies for architects and engineers.

Coverage is designed to protect against third party claims alleging spoliation of evidence that is material to a legal proceeding.

“A bolt in a construction project is worth very little in actual cash value,” said Sanjay Godhwani, executive vice president and property division executive of Lexington Insurance Company. “But if it fails and leads to loss of life, it might become evidence in a trial, where it could be worth an exponentially greater amount.”

Source: Chartis