EWING, N.J., June 26 NJ-BerkleyLifeScience
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
period
-- 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
requirements.
"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).
For additional information regarding Berkley Life Sciences or LS Prime
Features & Benefits, visit www.berkleyls.com or contact Emily Urban, SVP, at
609.844.7800 or eurban@berkleyls.com.
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
