OneBeacon Insurance Group thas a new insurance product,
@vantage for MedTech, which offers products liability protection for businesses that develop, manufacture or distribute medical devices.
Highlights of the Products Completed Operations Liability coverage in @vantage for MedTech include automatic extensions of coverage for vendors, scientific advisory boards, and human clinical trial contractors; automatic human clinical trials coverage; coverage for representations and warranties relating to a business’s products and services; a supplemental extended reporting period of unlimited duration; and liability extensions for sales and demonstration exposures.
“By building the products liability coverages into the policy we’ve removed the guesswork and the need for special endorsements,” said Matt Mueller, national technology manager for OneBeacon Commercial Middle Market.
In addition to products liability, @vantage for MedTech includes
premises and operational liability, property, automobile, errors and
omissions, umbrella and workers compensation. Property coverage includes research and development property, and spoilage, contamination and change in temperature, among other provisions.
OneBeacon also continues to be a market for all medical technology businesses — including pharmaceutical, nutraceutical, and research and development companies — that require coverage other than products liability.