ACE Group introduces new insurance for life science companies in Continental Europe

Apr 4 2013

ACE Group today announced the launch of a new insurance proposition covering global life science risks for companies in Continental Europe as part of its strategy to further build its casualty offering for businesses in the region.

“Life sciences provides another example of how ACE can bring its specialist expertise and global experience to bear for the benefits of its clients in Continental Europe. This launch further underlines our capability and commitment to helping European businesses manage their specialty casualty needs.”

ACE's team of specialist casualty underwriters throughout the region will provide product liability and professional liability policies for a variety of businesses including:

• biotechnology companies
• highly specialised pharmaceutical companies with revenues of €500 million or less and five products or fewer
• medical equipment manufacturers
• sponsors of human clinical trials worldwide
• ACE will also offer fronting capabilities for large, multinational pharmaceutical risks

Flexible capacity of up to €100 million and occurrence and claims-made coverage will be available, depending on the product. As well as purchasing standalone insurance, companies can purchase protection as part of a wider casualty insurance programme with ACE. Country-specific offerings, tailored for each of ACE's key markets in Continental Europe, will be rolled out in the coming months.

Rosemary Ness, Casualty Manager for Continental and Central and Eastern Europe at ACE, said:

"Life sciences provides another example of how ACE can bring its specialist expertise and global experience to bear for the benefits of its clients in Continental Europe. This launch further underlines our capability and commitment to helping European businesses manage their specialty casualty needs."

Connie Germano, Casualty Manager for Middle Market and Life Science for ACE in Continental Europe, said:

"The life science industry has unique challenges with complex insurance requirements that can only be met properly through expert knowledge and collaboration. Our team of risk engineers and underwriters, working together across ACE's global network, have the professional on-the-ground experience and specialist insight needed to design effective cover for European clients."