EWING, N.J., June 26 /PRNewswire/ -- Berkley Life Sciences, LLC, a member company of W. R. Berkley Corporation, today announced the introduction of LS Prime. LS Prime is a uniquely innovative primary liability policy designed to address the complex risks faced by life science companies of all sizes.
LS Prime features comprehensive, worldwide products liability, clinical trial, errors and omissions, and premises operations coverages. Included with this broad protection is an array of new features and enhancements not found in most existing life science policies:
-- Medical monitoring expense coverage even in the absence of physical injury;
-- Biological agents liability coverage including cleanup costs;
-- Coverage for materials and products in the care, custody or control of the insured;
-- Blanket clinical trial coverage including coverage for personal
injury, abuse or molestation, and medical expenses;
-- Products withdrawal expense, including crisis management expenses;
-- Affirmed punitive damages coverage where allowed by law;
-- Blanket additional insured options to suit customer preferences;
-- Various tail coverage features that are optional, including:
-- Extended Coverage - extends coverage period and reporting
-- Batch Liability - batches losses to a particular policy period
-- E-BERP - extends reporting period without the traditional back-
end charge, and reduces some of the traditional reporting
"LS Prime was developed to provide broad, seamless protection to life science enterprises," advised Jill Wadlund, President of Berkley Life Sciences. "The policy is comprehensive, yet scalable, so that customers purchase only the coverages they need. But LS Prime is just the beginning. We are committed to continuously listening to the needs of our customers. And we are equally committed to developing innovative, new insurance products and services to address those needs."
LS Prime will be issued in 48 states through Gemini Insurance Company, and in Rhode Island and Delaware through Nautilus Insurance Company. Both companies carry an A.M. Best Financial Strength Rating of A+ (Superior).
About Berkley Life Sciences, LLC
Berkley Life Sciences, LLC, a member company of W. R. Berkley Corporation, is solely dedicated to serving the needs of the life science industry, providing sophisticated, innovative insurance products and services to life science customers of all sizes.
About W. R. Berkley Corporation
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international.
|SOURCE Berkley Life Sciences, LLC|
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