JACKSONVILLE, Fla., May 14, 2013 /PRNewswire-iReach/ -- Lexicon Relocation, a premier provider of global relocation, assignment and consulting services, in partnership with mobility insurance specialists Jacob Street, is pleased to introduce a new program designed specifically for international employee (assignee) relocations. This new program offered exclusively by Lexicon Relocation is the industry's first one-stop insurance solution designed to simplify processes and reduce costs for companies relocating employees internationally.
Lexicon Transit and Global Renters Insurance Program combines transit and renters insurance into a single solution that offers seamless global coverage for assignees, allowing them to settle-in quickly and rest easy knowing their belongings are covered.
Under this program, transit insurance automatically converts to renters insurance for the first 12 months of assignment at NO ADDITIONAL COST. Coverage begins on pack day and converts to renters insurance after goods are delivered (time in transit is deducted from 12 month total). Currently, relocating assignees only receive transit insurance that begins on pack day and covers shipments until delivery, leaving a company's international assignee unprotected after delivery or to find renters insurance on their own.
In addition to free renters insurance, this new program also provides coverage for any additional transits within those first 12 months of coverage at no added cost. Currently, companies purchase transit insurance each time an employee relocates, but under the Lexicon program, if that employee relocates within the first year their goods are automatically covered. Companies that place employees on short assignments, relocating them multiple times a year, can potentially reduce insurance costs by half or more.
After 12 months, the policy expires and a company's assignees can then elect to renew the renters insurance coverage.
- Global coverage
- Free renters insurance included with purchase of transit insurance (** renters insurance begins after goods are delivered, combined time not to exceed 12 months)
- FREE additional transit insurance for multiple relocations that occur within original 12 months
- Assignee's can easily renew renters policy for assignments exceeding 12 months
*Excludes countries where the United States of America does not have a diplomatic presence such as Iran, and North Korea. Renters insurance is not available in an employee's home country, Canada, or the United States and its territories.
About Lexicon Relocation
Lexicon Relocation is a leading provider of global mobility services. With a focus on providing flexible solutions for clients of every size, we support corporate and government organizations, their employees and their mobility programs throughout the world. We offer a full array of customized global relocation, assignment and compensation management solutions. Lexicon has full-service facilities strategically located throughout the United States including Shelton, Connecticut; Atlanta, Georgia; West Chester, Ohio; Irvine, California, with headquarters in Jacksonville, Florida and global client services support in Hong Kong - SAR, China. By utilizing proven technology, supplier independence, quality performance metrics, cost-effective processes and the demonstrated expertise of our people, Lexicon brings the world to your doorstep, one employee at a time. Your People, Your Way, Worldwide. www.lexiconrelocation.com
About Jacob Street
Jacob Street Partners LLC was founded to meet the insurance needs of the mobile workforce by providing access to high quality insurance coverage at reasonable rates and expert counseling from professionals who understand both insurance and relocation. Jacob Street has partnered with the best companies in the industry to help address the insurance needs of international transferees. To make the process of obtaining coverage as easy as possible, they offer customers pre-departure advice, needs assessment, briefings on policies, explanations of terms, and fast claims service. To learn more about Jacob Street Partners, please go to www.jacobstreet.com.
Media Contact: Kelly Evans Lexicon Relocation, 904-858-1258, firstname.lastname@example.org
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SOURCE Lexicon Relocation