ACE Group has expanded 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 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.
Features ACE Westchester’s Life Sciences program include:
- Global products for U.S.-based life sciences companies, including those conducting clinical trials overseas. Coverage includes:
- Products-completed operations and professional liability coverage including worldwide coverage where needed with locally admitted policies where required
- The ability to add locally admitted policies (where required) in more than 140 countries, worldwide
- Package policy that includes property, auto and crime coverage, written in conjunction with the above
- Policy limits
- Domestic clinical trials: Up to $15 million in capacity for sponsors of human clinical trials
- Foreign clinical trials: Up to $35 million combined limits
- Client profile
- Sponsors of human clinical trials, biotechnology companies, pharmaceutical companies, non-implantable medical device manufacturers
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