Markel launches new life sciences offering to address emerging exposures
Specialist insurer Markel has expanded its life sciences offering providing broader access to errors and omissions, and general liability coverage paired with a suite of industry-specific enhancements to address emerging exposures in this sector.
The newly enhanced life sciences product liability offering will be available on admitted paper. It will offer tailored solutions to include industry specific coverages such as clinical trial coverage, class 1 product recall expense coverage, and more. The policy also spans the medical device, pharmaceutical, biological, dietary supplement, and cosmetic industries through the entirety of the product life cycle, meaning insureds will be able to obtain coverage from the beginning of the research and development stage and all the way through commercialisation.
Markel partners will have expanded accessibility to the new offering and will be able to work with its specialised and experienced life sciences underwriting, claims and loss control team. Markel's enhanced primary offering will be complemented by excess liability for the life sciences industry.
"Markel is proud to be an insurance provider that now offers broadened and expanded accessibility for products-completed operations, error or omission, and general liability coverage with our enhanced life sciences liability insurance policy," said Mary Ann Stewart (Pictured), director, life sciences. "Markel joins a small group of carriers that offer this capability. Our enhanced offering can be paired with a suite of life sciences industry-specific coverage enhancements via endorsement, and underscores Markel's deep commitment to the life sciences industry."
Jane Peterson, chief underwriting officer of Markel Specialty, added: "Markel is committed to continuing to address our customers' unique and emerging exposures by providing specialized, innovative solutions within the life sciences industry. We're excited to continue to partner with our brokers and customers to make it easier to obtain admitted coverage."
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