Offering up to $1 million of international liability coverage, the policy would apply if the operator policy holder is sued in a U.S. court for injuries sustained by passengers in an accident while traveling in a vehicle of a global affiliate.
LONG BEACH, N.Y. - At the International LCT Show Jan. 25-27, Lancer Insurance unveiled its new international coverage plan, which will provide additional liability protection to existing limousine policy holders using international affiliates to service their clients while traveling overseas.
The plan will offer up to $1 million of international liability coverage. The coverage endorsement applies if a limousine policy holder company is sued in a U.S. court for injuries sustained by passengers in an accident while traveling in one of its international affiliates' limousines.
Plan highlights include the availability of liability limits from $500,000 to $1 million; no restrictions on coverage due to size of the policy holder's domestic fleet; and the flexibility to add coverage endorsement during current policy term rather than waiting for policy renewal.
Randy O'Neill, senior vice president of Lancer Insurance, said that with an increasing number of limousine operators partnering with international affiliates, the new product is ideal for existing policy holders with larger companies who are taking on international work.
"The inspiration [for the plan] really came from our customers who are doing more and more of that type of work. They asked for that additional liability protection in these types of cases," O'Neill added.
For more information on Lancer's International coverage, visit <a href=http://www.lancer-ins.com target=_blank>the Lancer Insurance web site</a>.
-- Nicole Schlosser, LCT Magazine