EWING, N.J.--(BUSINESS WIRE)--Berkley Life Sciences, a Berkley Company, proudly introduces LS Prime® Advantage, an admitted products liability insurance program for the life science community. LS Prime® Advantage features a streamlined and intelligent approach to managing the unique risks faced by life science companies as they evolve from product development through commercialization.
LS Prime® Advantage has already been filed and approved in a number of states and ultimately is anticipated to be available countrywide.
Life science companies accessing LS Prime® Advantage can choose from a comprehensive suite of life science-specific coverages, including products/completed operations liability; clinical trial coverage; product withdrawal expense; errors & omissions; and many new coverage enhancements. Limits are available up to $15M in the aggregate.
“We live and breathe life sciences,” commented Emily Urban, President of Berkley Life Sciences. “With our new admitted products policy, it is now easier for our distribution partners to obtain specialized, admitted coverage from a national carrier with a boutique perspective. We are part of an enthusiastic community of diverse experts intent on fueling infinite life science solutions for a better tomorrow.”
LS Prime® Advantage is provided through an admitted carrier rated A+ by A.M. Best that is a member of W. R. Berkley Corporation.
LS Prime® Advantage complements the full spectrum of coverages offered by Berkley Life Sciences worldwide, including products and clinical trial liability; commercial general liability; professional liability; excess and umbrella; commercial package; inland marine; automobile; workers’ compensation; and political risk.
Berkley Life Sciences will continue to offer products liability and clinical trial coverage on a global basis in the Excess and Surplus Lines market.
About Berkley Life Sciences
Berkley Life Sciences, a Berkley Company, is dedicated to serving the needs of the life science industry, providing sophisticated, innovative insurance products and services to life science customers of all sizes. Berkley Life Sciences is a member company of W. R. Berkley Corporation, which is among the largest commercial lines writers in the United States.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction. Coverage afforded under any insurance policy issued is subject to the individual terms and conditions of that policy as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. In California, Berkley Life Sciences conducts business as Berkley LS Insurance Solutions, LLC, a licensed surplus lines broker (License Number 0H44165).