Insurance Post

Lexington claims first with US zoning cover

Lexington Insurance Company, part of AIG, has unveiled what it describes as a 'first of its kind' insurance policy to protect commercial and residential real estate developers and lenders from losses due to changing zoning ordinances.The new policy, called Zoning Restriction Protector(SM) Insurance, has been designed for commercial and multi-tenanted residential real-estate owners and lenders who may incur significant damage to their property and cannot rebuild the same size building due to