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American Lease Insurance Announces
Lexington Insurance Company As Its Underwriter
SUNDERLAND, MA - November 1, 2006 - American Lease Insurance (ALI) announced today that Lexington Insurance Company (Lexington), a member company of American International Group, Inc. (AIG), is now underwriting the American Lease Insurance (ALI) ProgramSM.
Steve Dinkelaker, president of ALI, remarks on this milestone for the company: "We're extremely pleased about the increased financial strengths Lexington brings to our clients. Lexington's underwriting capacity equips us to provide liability insurance to equipment lessors with much higher limits, increasing liability coverage to a minimum million dollars per occurrence and ten million dollars annual aggregate. Their strong, independent underwriting expertise in the categories of construction, mobile and agricultural equipment will help us be even more competitive in our property insurance coverage offerings with those equipment types."
The ALI Program provides equipment lessors and finance companies comprehensive portfolio protection with property and liability coverage on all eligible leases from the day they are signed. Fully automated, the ALI Program is integrated with five major lease accounting software systems used by lessors. When lessees choose to arrange their own insurance, the ALI Program tracks alternate coverage, ensuring that adequate coverage is maintained throughout the lease term or provided when other coverage cancels or expires.
"Lexington has agreed to rely on ALI systems for all premium calculations and accounting," adds Dinkelaker, "so we are confident that the process will be seamless right from the start."
ALI’s superior coverage, competitive pricing and meticulous follow-up have resulted in the highest lease insurance acceptance rates in the industry. ALI lessor clients report increased funding volume with insurance documentation hurdles removed, and greater lessee satisfaction.
Dinkelaker, a licensed insurance producer since 1984, created, implemented, and managed lease insurance programs for almost all of the major small-ticket leasing companies. He founded American Lease Insurance in 2000. ALI currently provides comprehensive coverage, systematic tracking, full collections follow-up and claims processing to over 20 clients from its headquarters in Sunderland, Massachusetts, 45 minutes north of Hartford, Connecticut. An active member of all major equipment leasing associations, ALI has been the corporate sponsor of the Equipment Leasing and Financing Foundation's annual Industry Future Council since 2003. For more information, go to www.aliac.net.
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