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Lexington Launches LexCap Overturn

Allows insureds to purchase additional limits at pre-established rates

Lexington Insurance, a Chartis company, has introduced LexCap Overturn, an endorsement to Lexington’s medical professional liability policies that allows insureds to purchase additional limits at pre-established rates in the event that a specific state’s cap on non-economic damages is overturned or ruled unconstitutional.


LexCap Overturn builds upon Lexington’s extensive history in the medical malpractice market, and will be underwritten and serviced by Lexington’s team of underwriting, risk consulting and claims management personnel.


Brad Cox, senior vice president and division executive of Lexington’s Healthcare Division, said: “Tort reform involving caps on non-economic damages has been of significant benefit to the healthcare industry. However, the constitutionality of these caps has been challenged in a number of states. An insured might find itself under-insured if a statutory cap that limits non-economic damages is overturned.”


LexCap Overturn provides an insured the option to purchase additional medical professional liability limits if a cap on non-economic damages is overturned during the policy term at a price determined at policy inception. The structure of LexCap Overturn is economically efficient. It gives the insured certainty regarding the availability and cost of additional limits in the event the insured decides that additional limit is needed.


Chartis is a property-casualty and general insurance organisation.