Sompo Global Risk Solutions Launches Product for Life Sciences Industry

February 11, 2020

Sompo Global Risk Solutions has introduced Sompo Life Science Plus, a products-completed operations and errors and omission liability protection product built for the life sciences industry.

The new product offers coverage for various life science products, including products used in human clinical trials, products loaned or rented to others, representations and warranties made with respect to a named insured’s product, limited coverage for bodily injury and property damage occurring on premises with respect to contract research and contract manufacturing services, and errors and omissions for financial loss, including failure to provide directions or instructions.

Sompo Life Science Plus also offers an array of property coverages tailored to meet the specific needs of life science companies such as research animals, bio and radioactive contamination and R&D business income. The product targets small and middle market accounts, including biotechnology companies, clinical monitoring and site management firms, clinical trials, contract research organizations, laboratories, medical device companies, pharmaceutical companies, private label and contract manufacturers, research and development facilities and service organizations.

Sompo Global Risk Solutions offers multi-line capabilities targeted to accounts in select industry verticals including real estate, hospitality, financial institutions, life sciences and professional services, in addition to Asian companies with operations in the U.S. and Mexico, as well as Global Weather products.

Sompo Global Risk Solutions services small, middle market and large accounts across property, general liability, package, workers’ compensation, auto, umbrella and environmental lines of business and provides a client-centric white glove service approach to each account, delivered by dedicated teams encompassing underwriting, actuarial, claims and risk control specialists.

Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc.

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