New products launched on the continent
Multiline insurer ACE Group has introduced global life science insurance cover to Europe, according to News Medical.
The new offering will provide cover for product liability and professional liability for biotechnology companies and specialised pharmaceutical companies with no more than five products and revenues under €500m (£424m). The underwriter will also start offering cover for manufacturers of medical equipment and sponsors of human medical trials.
The policies will be offered to customers as standalone products as well as through a broader casualty insurance programme.
Ace casualty manager for middle market and life science in Continental Europe Connie Germano said: “The life science industry has unique challenges with complex insurance requirements that can only be met properly through expert knowledge and collaboration. Our team of risk engineers and underwriters, working together across ACE’s global network, have the professional on-the-ground experience and specialist insight needed to design effective cover for European clients.”
The company is also considering a launch of country-specific products over the next few months.
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