Sompo Global Risk Solutions (GRS) has formed a new team offering insurance to clients in the life sciences industry.
The GRS Life Sciences team is led by Todd Lauer who has joined Sompo GRS as senior vice president. Lauer brings 20 years of experience in life sciences underwriting to Sompo GRS, including leadership roles with OneBeacon, Chubb and CNA. At OneBeacon, he led a multidisciplinary team of actuarial, claims, finance, legal, risk control, support and underwriting professionals focused on the sector. He has also served as life sciences underwriting director for CNA Insurance and life sciences underwriting officer for Chubb across the Midwestern U.S.
He reports to Michael Chang, CEO of Sompo Global Risk Solutions, and is based in the company’s Chicago office.
The GRS Life Sciences team will offer product liability, clinical trial liability, property, auto, workers’ compensation, environmental and products related errors & omissions (E&O) coverage for contract research organizations, clinical trials, and medical device, pharmaceutical and biotechnology companies.
The team will target small and middle market life sciences organizations in the United States, including manufacturers, contract manufacturers and service organizations, laboratories, research and development facilities, and clinical monitoring and site management firms. Sompo GRS also serves Japanese and South Korean clients with operations in the United States and Mexico.
Source: Sompo International
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