PHILADELPHIA--(BUSINESS WIRE)--
ACE Group today announced the expansion of its suite of products
developed to address the needs of U.S.-based life sciences companies
through its wholesale-focused business, ACE Westchester Professional
Risk. The ACE Westchester Professional Risk Life Sciences policy
addresses the unique exposures faced by life sciences companies,
offering domestic and global product liability, and providing coverage
for clinical trials, including biotechnology, specialty pharmaceutical,
and non-implantable medical device organizations.
The Life Sciences capability continues to expand the medical coverage
options offered through ACE. While this coverage has been available
within the retail sector of ACE for more than 10 years, this is now
expanded to be offered by ACE Westchester, where the focus is on product
distribution through wholesale brokers.
“ACE’s longstanding leadership role in the Life Sciences arena will
allow us to continue to respond to an ever-changing marketplace with
flexibility and innovation,” said Randi Goldberg, Vice President, ACE
Westchester Professional Risk. “We continue to offer the extensive
product knowledge and underwriting expertise that has always
distinguished ACE, but with the added value of an approach tailored to
the wholesale market.”
Key highlights of ACE Westchester’s Life Sciences Program:
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Global solutions for U.S.-based life sciences companies, including
those conducting clinical trials overseas. Coverage includes:
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Products-completed operations and professional liability coverage
including worldwide coverage where needed with locally admitted
policies where required
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The ability to add locally admitted policies (where required) in
more than 140 countries, worldwide
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Package policy that includes property, auto and crime coverage,
written in conjunction with the above
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Policy Limits
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Domestic clinical trials: Up to $15 million in capacity for
sponsors of human clinical trials
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Foreign clinical trials: Up to $35 million combined limits
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Client Profile
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Sponsors of human clinical trials, biotechnology companies,
pharmaceutical companies, non-implantable medical device
manufacturers
ACE Westchester is the wholesale-focused business of ACE Group, which is
one of the world’s largest multiline property and casualty insurers. For
more information about ACE Westchester, please click
here. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident,
supplemental health insurance, reinsurance, and life insurance to a
diverse group of clients. ACE Limited, the parent company of the ACE
Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index. Additional information can be found at: www.acegroup.com
or follow ACE on Twitter, https://twitter.com/ACE_GroupNA.
Source: ACE Group