OneBeacon Creates Modular Medical Technology Product for Life Sciences Risks

May 30, 2018

OneBeacon Technology Insurance, a member of OneBeacon Insurance Group, has introduced a modular medical technology product/ professional liability policy – Medical Technology Solutions – tailored to address life science companies’ exposure to products/completed operations, cybersecurity and communication liability risks.

Through its menu-driven approach, customers can customize their product from an array of first- and third-party coverages with a common set of definitions, conditions and exclusions.

OneBeacon Technology Insurance President Mary Fisk-Bieker said the modular approach means fewer endorsements are required in order for policyholders to have a comprehensive program.

The MedTech Solutions product also includes access to 24/7 data breach services, including an incident reporting hotline. Technology risk control specialists are available for consulting and to help develop risk mitigation plans as an extension of our offerings.

Medical Technology Solutions is a claims-made product written on an admitted basis and is already available in most states. International coverages are additionally available.

OneBeacon Technology Insurance, a brand of OneBeacon Insurance Group Holdings, Ltd., delivers all-lines underwriting for the technology, life science and medical technology, and telecommunications industries. The specific capabilities offered include risk control, claims and third-party vendor solutions. Products span property, casualty, information risk suite, E&O, international, products liability and professional coverages.

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