Willis Group Holdings has worked in cooperation with several pharmaceutical and medical products companies, to establish Pharmaceutical Insurance Limited (PHIL), a Bermuda-based mutual insurance company that will issue its first policies on July 1, 2003.
“The new mutual insurance company will provide excess property damage and business interruption insurance for its current and future members,” said the announcement. It will be managed by Willis Management (Bermuda) Limited (WM[B]L).
The bulletin explained that “As member companies have experienced significant volatility through the insurance market cycles, PHIL was established to provide long term premium and coverage stability.”
It also indicated that further information can be obtained by contacting Oliver Heyliger of WM(B)L at 441 295 1272 or by e-mail to oliver.heyliger@willlis.com
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