Berkley Life Sciences Introduces LS Prime® Advantage Admitted Product Liability Insurance Coverage | News

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EWING, New Jersey–(BUSINESS WIRE)–March 7, 2022–

Berkley Life Sciences, a Berkley company, proudly presents LS Prime ® Advantage, a recognized product liability insurance program for the life sciences community. LS Prime ® Advantage offers a streamlined, intelligent approach to managing the unique risks life science companies face as they move from product development to commercialization.

LS Prime ® Advantage has already been filed and approved in a number of states and should eventually be available nationwide.

Life sciences companies gain access to LS Prime ® Advantage can choose from a full range of life science-specific coverages, including product liability/completed operations; coverage of clinical trials; product withdrawal fees; errors and omissions; and many new coverage improvements. Limits are available up to $15 million in total.

“We live and breathe life sciences,” commented Emily Urban, president of Berkley Life Sciences. “With our new admitted product policy, it is now easier for our distribution partners to obtain specialized and admitted coverage from a national carrier with a boutique perspective. We are part of an enthusiastic community of diverse experts committed to powering endless life science solutions for a better tomorrow.

LS Prime ® The benefit is provided by an authorized carrier rated A+ by AM Best which is a member of WR Berkley Corporation.

LS Prime ® Advantage complements the full range of coverage offered by Berkley Life Sciences worldwide, including product and clinical trial liability; commercial liability; professional liability; excess and umbrella; commercial package; inland navy; car; workers’ compensation; and political risk.

Berkley Life Sciences will continue to offer worldwide product liability and clinical trial coverage in the excess and surplus lines market.

For more information about Berkley Life Sciences and its product liability insurance coverage, please visit www.berkelyls.com or contact Lisa Krist at LKrist@BerkleyLS.com.

About Berkley Life Sciences

Berkley Life Sciences, a Berkley company, is dedicated to serving the needs of the life sciences industry, providing sophisticated and innovative insurance products and services to life sciences customers of all sizes. Berkley Life Sciences is a member firm of WR Berkley Corporation, one of the largest business line writers in the United States.

Products and services are provided by one or more insurance company subsidiaries of WR Berkley Corporation. Not all products and services are available in all jurisdictions. Cover provided under any insurance policy issued is subject to the individual terms and conditions of that policy as issued. Certain coverage may be provided through subsidiaries of the Surplus Lines Insurance Company of WR Berkley Corporation through licensed Surplus Lines brokers. Surplus line insurers generally do not participate in state guarantee funds and policyholders are therefore not protected by these funds. In California, Berkley Life Sciences does business as Berkley LS Insurance Solutions, LLC, a licensed surplus lines broker (license number 0H44165).

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CONTACT: MEDIA:

Eric M. Jacobs

vice president

609.844.7800

KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY

SECTOR KEYWORD: PROFESSIONAL SERVICES SMALL BUSINESS OTHER PROFESSIONAL SERVICES INSURANCE OTHER SCIENCE SCIENCE

SOURCE: Berkley Life Sciences

Copyright BusinessWire 2022.

PUBLISHED: 07/03/2022 08:00/DISC: 07/03/2022 08:02

http://www.businesswire.com/news/home/20220307005008/en

Copyright BusinessWire 2022.

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